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Introduction to Letters of Credit
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Payment Key on a Keyboard 

 

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

     

       

Member price - £299 + VAT

Non-member price - £399 + VAT

Join the Institute from as little as £65 and save over £100 on your training course!

 

Continuing Professional Development (CPD)

This course is CPD certified - 12.5 points

 

Before booking please make sure you read our training course terms and conditions. Booking a place on one of our training courses implies acceptance of these terms.

 

Dates and locations

Start date

End date

Location

14/11/2018 14/11/2018 London Book now

 

Related courses:      
Credit and Finance Intro to Exporting Intro to Importing
Advanced Letters of Credit Introduction to Exporting Introduction to Importing

 

 

To discuss our training courses:
Call +44 (0)1733 404400
Email training@export.org.uk