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.
Who should attend
Anyone whose role involves the setting up and operation of Letters of Credit
Staff in accounts, collections, shipping and customer service
- 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
Member price - £260 + VAT
Non-member price - £360 + VAT
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Continuing Professional Development (CPD)
This course is CPD certified - 12.5 points
Dates and locations
To discuss our training courses:
Call +44 (0)1733 404400