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International Letters of Credit Course Agenda

1. INTRODUCTION/DECISION CRITERIA
   1. Decision Making and Payment Methods
   2. Risk to International Trade Payment
   3. Traditional Payment Methods
2. LETTERS OF CREDIT AS METHOD OF PAYMENT
   1. Parties to the Letter of Credit
   2. Payments under Letters of Credit
   3. Costs and Benefits
   4. Types of Letters of Credit
3. REVIEW OF L/C PROCEDURE AS EXPORTER AND AS IMPORTER
   1. Quotation
   2. Instructions for the Letters of Credit
   3. Checklist for Letters of Credit
   4. Document Preparation and Presentation
   5. Discrepancies
4. LOOK AT VARIOUS TYPES OF L/C’s
   1. Revocable or Irrevocable
   2. Confirmed and Unconfirmed
   3. Restricted Letter of Credit
5. SPECIAL TYPES OF LETTERS OF CREDIT
   1. Variations You Will See
   2. Revolving – Standby – Transferable
   3. Red Clause, Green Clause
   4. Time Drafts and Bankers Acceptances
6. UNIFORM CUSTOMS AND PRACTICE FOR DOCUMENTARY CREDITS — RULES OF THE ARTICLES AND NOTE ON EACH ARTICLE
   1. International Standard Banking Practices (ISBP)
   2. Commentary on the UCC of the United States NOTE: Discussion on UCP 600
7. TRANSACTION REVIEW – EXPORT
   1. Amendment to the Letter of Credit
   2. Checklists
   3. Documents Checklist (Commercial Invoice, Bill of Lading, Packing List, Insurance, etc…)
   4. Letter of Transmittal to Bank
8. TRANSACTION REVIEW – IMPORT
   1. Parties Agree to Letter of Credit as Payment Method
   2. Buyer Applies for Letter of Credit
   3. Seller Receives and Accepts the Credit
   4. Nominated Bank Review Documents
   5. Issuing Bank Exchanges Documents for Payment
   6. Importer Picks up Goods
9. CASE STUDY ON AN EXPORT LETTER OF CREDIT
10. NON-TRADITIONAL PAYMENT METHODS