Over 75% of first presentations to banks against Documentary Letters of Credit are rejected, resulting in delayed payments to exporters, additional costs, and breached delivery deadlines. Our practical and informative course provides a thorough understanding of Letters of Credit, ensuring your transactions are efficient and secure. Join us as we cover the eight main types of Letters of Credit, including advance payment, Sight Documentary Collection, Documentary Letters of Credit, and Bills of Exchange.
Key Learning Objectives:
Introduction to Letters of Credit: Understand what a Letter of Credit is and its importance in international trade.
Eight Main Types of Letters of Credit: Explore the different types, their uses, and how they function.
Administration and Procedure: Learn the steps involved in managing Letters of Credit, from start to finish.
Security Levels and Costs: Discover the types and levels of security, and understand the associated costs.
Getting the Credit You Want: Tips on negotiating and securing favourable terms for your Letters of Credit.
Document Examination: Understand the required documents for presentation and how to ensure they meet bank standards.
Common Pitfalls and Solutions: Identify what can go wrong and how to prevent errors that lead to rejections.
Top Tips for Success: Gain expert advice to achieve successful transactions every time.
UCP600/ISBP: Learn about the Uniform Customs and Practice for Documentary Credits (UCP600) and International Standard Banking Practice (ISBP).
Help and Advice: Access valuable resources and support for ongoing assistance.
Accredited by the British Chambers of Commerce, this course also provides one credit towards the Foundation Award in International Trade.
To receive the nationally recognised Foundation Award, you need to achieve six credits in total. Training notes will be provided to support your learning experience.
