Course code: ALCW - call 0845 071 2801
Overview
Course duration: 1 day.
A one day interactive and practical workshop aimed at exporting companies and freight forwarders who regularly receive or handle Letters of Credit.
Case-study based, enabling lots of opportunity for practice and sharing experience, the course will help companies to negotiate the most favourable terms to be incorporated within Letters of Credit as well as reduce the risks and costs associated with presenting discrepant documents to the bank.
Is it right for me?
The workshop is suitable for;
- Experienced people who need a refresher and update
- Those who have attended our 'How to Handle Letters of Credit' courses who would like an in-depth, practical follow-up
- Finance and documentation staff who need practice with live examples and an opportunity to see their challenges in a new light
What will I learn?
By the end of this course you will be able to:
- Understand the forms and types of Letters of Credit.
- Devise a formula to influence the Letter of Credit content.
- Appreciate how credit insurance fits in.
- Understand USP 600 legislation and the opportunities it brings to your Letter of Credit performance.
- Identify the best performing banks and who to give your business to.
What will it cover?
Trade Methods of payment – a Refresher
- Documentary Collections & Bills of Exchange
Documentary Letters of Credit – Introductory Refresher
The Letter of Credit Cycle
Negotiating Terms with overseas Customers
Common Problems and Discrepancies
Bank & Country Risk – Letters of Credit Confirmation
Other types of Letters of Credit – Transferable, Back-to-Back, Standby
Letters of Credit exercises
- Current examples and issues
- Checking the Letter of Credit upon receipt
- Identifying and reducing discrepancies
- Calculating the costs and how to manage them
Uniform Customs & Practice For Documentary Credits – UCP 600
Document Checking Exercise
Financing under Letters of Credit