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Introduction to Letters of Credit
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On past experience, export sales and marketing staff also find many aspects of the course to be of great practical value. Payment options culminating in Letters of Credit are put into context. This course will explain the roles of the parties, clarify the procedures and recommend practical ways in which exporters can establish best practice in order to ensure payment every time.

 Export to Your Calendar 23/05/2018
When: 09:45
Where: Map this event »
The Office Group
East Side, Kings Cross Station
King's Cross
London N1C 4AX
United Kingdom
Contact: IOEx Training
01733 404400


Online registration is available until: 23/05/2018
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Overview

Importing and exporting involves risks. Exporters run the risk of buyers failing to pay for goods, while importers may risk paying but never receiving anything. Because of the distances involved, it may be difficult to resolve any disputes.

One way of reducing the risks is to use a letter of credit. This can offer a guarantee to the seller that they will be paid, and the buyer can be sure that no payment will be made until they receive the goods.

There are several different types of letters of credit available to use, depending on the circumstances.

This course will explain the roles of the parties, clarify the procedures and recommend practical ways in which exporters can establish best practice in order to ensure payment every time.

 

Learning outcomes

  • Payment options in International trade
  • The role of Letters of Credit in International Trade
  • The benefits of Letters of Credit to buyer and seller
  • Roles and responsibilities of buyer and seller in a Letter of Credit
  • The role of the Banks
  • Making Letters of Credit work for all parties
  • Avoiding discrepancies
  • Common documentation and common terms
  • Strict compliance – the role of UCP 600
  • Generating finance and cash flow within a Letter of Credit
  • The different types of Credit

 

Who should attend

This course is most suitable for new exporters of people working in export but never had official training that deal with or get involved with Letters of Credit.

The departments within a business that this course would apply to are:

  • Customer Services
  • Export Administration
  • Shipping
  • Purchasing
  • Accounts and Finance
  • Export Sales Administration
  • Export Sales Management
  • Import Administration
  • Logistics
  • Distribution
  • Legal

 

Location

As Station buildings go, King’s Cross is one of the most iconic with Grade 1 listing and designed in 1852. The Office Group have taken two floors of offices that form part of the main station building. Enter from the front of station on the corner of York Way and Euston Road, just to the right of the beautiful arches looming over the main entrance. 

Kings Cross East Side

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