Trade Team to host FREE Letter of Credit Taster Session

Date: 30/06/2020
Author: GMCC Trade Team
Company: GMCC Trade Team

A letter of credit can be a safe and secure payment method when selling your goods overseas. When selling internationally, exporters can risk buyers failing to pay for goods, while importers can risk paying but never receiving goods.

One way of reducing the risks is to use a letter of credit. This can offer both the seller and buyer a level of security to ensure the terms of the sale are carried out by both parties in a timely manner.

However, this is not to say letters of credit are an easy, one-fits-all solution. To make the letter of credit payment method work for your business you must be sure of how they work, and the process involved, otherwise you could be liable for additional fees.

To help businesses become more knowledgeable about letters of credit, Greater Manchester Chamber’s Trade Team is offering businesses access to a free, virtual taster session. Due to take place on 2nd July, the session is an opportunity for anyone currently involved in the letter of credit process, as well as those who are considering it, to learn more about the payment method from experienced GMCC Associate Jacqui Tulip.

Amy Swindells, International Trade Operations Manager said: ‘A letter of credit can be a really effective payment method for businesses. It certainly has a level of security for both exporter and importer that other payment methods lack.

However, mistakes are common with letters of credit and this is mainly due to a lack of knowledge about the attention to detail required. That’s why we’ve decided to make this free training taster session available to businesses, to raise awareness amongst businesses considering using, or already using, letters of credit’

To register for your free place on this webinar book here.