Methods of Payment & Letters of Credit

What will I learn?

This course is suitable for those working in international trade who are involved in managing and presenting Letters of Credit. It provides an overview of all methods of payment when trading internationally, including the risks and benefits, before concentrating on the rules of managing a Letter of Credit to ensure compliant documents and successful payment.

Specifically, we cover:

• Methods of payment risk ladder
• Review of payment options and risks (advance payment, documentary collections, open account)
• Incoterms and insurance
• Preparing a draft Letter of Credit – advantages, disadvantages, and types
• Confirmation
• Preparing documents for presentation
• Foreign currency considerations
• Process of payment
• Practical session: reading a Letter of Credit and checking documents

How will I learn?

This is an interactive session with plenty of opportunity to ask questions alongside practical exercises in reading and checking Letters of Credit.

Duration: Half day

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.

Non-members can book online using the option below and should call (01753 870 520) or email us if they experience any difficulties.

Global members should call (01753 870 520) or email us so that their discounted rate can be applied.