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Letters of Credit
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Please note, due to COVID-19 some course dates are being offered through a virtual classroom

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, or people working in export but who have never had formal training on 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

 

The Presenter - Kevin Shakespeare FIEx

Kevin is a key member of the Institute’s management team and an energetic and self-motivated individual with a strong knowledge of education, trade and finance and international trade, built up over many years in senior management positions.

He has managed top 100 banking connections in HBOS covering International Trade strategy and procedures, including Sports Direct, Alexander Dennis and innocent Drinks.

Read more

  

Member price - £299 + VAT

Non-member price - £399 + VAT

 

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

Please note, due to COVID-19 some course dates are being offered through a virtual classroom

Start date

End date

Location

 15/10/2020 15/10/2020 Virtual ClassroomBook Now
 11/11/2020 11/11/2020 Virtual Classroom Fully Booked-
Waitlist

 

Related courses:      
Credit and Finance Intro to Exporting Intro to Importing
International Trade and Finance Introduction to Exporting Introduction to Importing

 

 

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