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
For further information contact Marie White: m.white@chamberelancs.co.uk / 01254 356 448
