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Understanding and Working with Letters of Credit

A Letter of Credit enjoys various advantages in executing an international trade transaction – it gives the trading partners an ability to transact with newly established customers and offers financial security.  They can be seen as a daunting way to effect payment however the document clauses against letters of credit are highly customizable to allow both parties to trade in a way that is mutually beneficial.

This course offers information on instructing your customer how to open a letter of credit giving you the confidence and knowledge that you need to be compliant with their documentary requirements.

Course Content

  • Explanation of Letters of Credit, their importance and different features
  • Risk and obligation of both buyer and seller
  • How to open a Letter of Credit to your advantage using agreed instructions
  • What to look out for – key dates for compliance and key checks
  • What documents are involved within a letter of credit
  • Stages in a Letter of Credit
  • Explanation of UPC600 rules and International Standard Banking Practice
  • Letters of credit for Importing
  • Special Letters of Credit

Attending the Letter of Credit training at the Chamber has really helped me progress in my job role.
The course was very informative, and I met some lovely people with more experience than me who were able to provide me with tips; that I now use daily.

I no longer dread letter of credits; like I used to! If you currently dread letter of credits like I did, I definitely recommend taking this course to ease your understanding

Hannah Dawson – Blackburn Chemicals

To reserve your place:

Useful downloads:

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Understanding and working with Letters of Credit (535.27 KB)

For further information contact Chloe Platt: international@chamberelancs.co.uk / 01254 356 473