| Letters of Credit (Columbus, OH) |
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May 17, 2012
Experience the advantages and benefits of attending a Global Training seminar:
- Getting involved in the set-up of Letters of Credit to save time and money
- Comprehensive review of the UCP 600 and how it affects Letters of Credit
- Learn Letters of Credit terminology to convey effective payment terms
- Consider other non-traditional methods of payment for international trade
FULL-DAY SESSION 8:30 a.m. to 4:00 p.m.
INTRODUCTION/DECISION CRITERIA
- Letters of Credit as Method of Payment
- For the Exporter - Why; why not-
- For the Importer - Why; why not-
- Selection of a Method of Payment
- Marketing and Sales Considerations
- Credit and Country Risk Analysis
- Appetite for Risk
- Product Type, Sales Cycle Issues e.g. Capital Goods
- Cost Structure of Company as a Decision Factor
COMPARE TO L/C (FLOW, RISK, COST,ADMINISTRATION)
- Documentary Collection
- Direct Collection
- Cash in Advance and Open Account
REVIEW OF L/C PROCEDURE AS EXPORTER AND AS IMPORTER
- Receipt, Review, Preparation, Submission, Payment
- Role of Exporter's Bank
- Application, Payment, Receipt of Documents
- Role of Importer's Bank
- Importer Financing and Credit Issues
LOOK AT VARIOUS TYPES OF L/C's, WITH EXAMPLES
- Discussion of Timing of Transactions
- Wording of the Draft on each Type of L/C
SPECIAL TYPES OF LETTERS OF CREDIT, WITH EXAMPLES
- As Exporter and as Importer
- Revolving
- Standby
- Transferable
UCP 600, ARTICLES AND NOTE ON EACH ARTICLE
- Liability of Banks, Recourse, Legal Environment
- Commentary on the UCC of the United States
TRANSACTION REVIEW - EXPORT LETTER OF CREDIT WITH COMMENTS ON UCP
- Sight Draft and Time Draft with L/C wording for Discounting
- Bill of Lading - How to Control Goods
- Packing List and Commercial Invoice
- Discussion of Documents/Discrepancies -Why; How to resolve
- Transaction Review; Import Letter of Credit
CASE STUDY ON AN EXPORT LETTER OF CREDIT
OVERVIEW OF NON-TRADITIONAL METHODS
- Factoring
- Lease Finance
- Sale of Insured A/R (Export Credit Insurance)
SEMINAR ONE-DAY FEE - *Early Registration $495 per person ($545 Late Registration)
*Register at least 1 month in advance for discount.
Certificate Issued Upon Completion.
About Our Instructors:
Global Training Center Instructors teach with knowledge and enthusiasm to provide real-world insight to tough situations. They can respond to your questions with confidence. Each Instructor has over 15 years of international trading experience. Each Instructor is prepared to help you understand the numerous details involved in complying with export and import regulations. Our goal is to assist you in building a strong international foundation.
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