IOE International Trade - Exporting Excellence through Education

Letters of Credit

Mark Hayward MIEx (CITA)
Members £225 + VAT and Non-Members £295 + VAT
10 CPD points

Course Outline
This one day course has something to offer all those whose role involves the setting up and operation of Letters of Credit. This includes staff in accounts, collections, shipping and customer service. On past experience, export sales and marketing staff also find many aspects of the course to be of great practical value. Letters of Credit present tremendous opportunities and challenges to the exporter. They represent a relatively secure method of payment but a very high proportion of documents presented to UK banks are still rejected on first presentation. 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.

Topics Covered

• Why use them at all?
• A review of payment risk and the Payment Risk Ladder
• The parties involved and their roles and responsibilities
• Issuing, Paying and Confirming Banks
• An introduction to the rule book - UCP 600
• Common documentation
• The Banks doctrine of strict compliance
• An introduction to types of Credit
• Practical exercises relating to UCP 600 and Documents.