International Letters of Credit

Learn the Benefits of Utilizing Letters of Credit

A letter of credit is a legally binding agreement used to facilitate international trade for a sale between the seller and the buyer. Imagine not getting paid for your international sale! Unfortunately, it does happen. Learn to fully comply with Letters of Credit requirements to ensure that you receive payment for your shipments. Get involved in the set-up process, learn the basic terminology and significance of various documents, and learn how to prevent and handle discrepancies. Everyone involved in the international sale should learn about the Letters of Credit requirements. This Letters of Credit course will ensure that you receive payment for your shipments, get paid faster, and lower bank fees.

Question: Are there different types of letters of credit?
Answer: Yes!

The most common types of letters of credit are:

• Irrevocable Letters of Credit
• Confirmed Irrevocable Letters of Credit
• Revocable Letters of Credit

Special types of letters of credit are:

• Standby Letters of Credit
• Back-to-Back Letters of Credit
• Transferable Letters of Credit
• Revolving Letters of Credit
• Red Clause Letters of Credit

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