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Letters of Credit
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Letters of Credit

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.

25/10/2017
When: 09:45
Where: Gusto Room, Chamber Space
Elliot House
151 Deansgate
Manchester, Greater Manchester  M3 3WD
United Kingdom
Contact: IOEx Training
01733 404400


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Course Outline

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.

 


 

Documentation:

  • 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
  • Practical examples and case studies
  • Exercises to support learning

Who would benefit from this course:

Anyone (regardless of seniority) involved in finance, shipping or sales/contracts.

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