Methods of Payment & Letters of Credit

BCC Foundation Award – All day course (2 modules) 

This course is suitable for those working in International Trade and are involved in the management and presentation of Letters of Credit.

The course provides an overview of all methods of payment when trading internationally to include the risks and benefits involved. It will then concentrate on the Letter of Credit aspect guiding you through the rules of managing a letter of credit, making sure documents are compliant and payment is successful.

Course content

• Foreign Currency Transaction Mitigation
• Methods of Payment – risks and benefits

– Advance Payment
– Documentary Collection
– Open Account
– Letter of Credit

• The Letter of Credit Process

– Terminology
– Advantages and Disadvantages
– LC Types
– UCP 600 Rules
– Management and Presentation of the Letter of Credit

• Incoterms 2020 and Insurance
• Shipping Documents
• Best Practice for L/Cs – Hints and Tips
• Practical Session

This course is a part of the British Chambers of Commerce Foundation Award in International Trade, a nationally recognised award giving international traders the essential skills invaluable to small and large businesses alike. Candidates wishing to participate in the BCC Foundation Award must demonstrate knowledge of the subject by completing an assessment marked by an external assessor.

Global Members: To book on with your extra discounted rate, please call +44 (0) 1753 870 560 or email export@tvchamber.co.uk

Non Members: Please call +44 (0) 1753 870 560 or email export@tvchamber.co.uk to book your place for this workshop.