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International Letters of Credit Course Agenda
8:30 a.m. to 4 p.m. – Seminar
8:30 a.m. to 4 p.m. (Central Time) – Webinar
Reference book Letters of Credit in International Trade
- INTRODUCTION/DECISION CRITERIA
- Decision Making and Payment Methods
- Risk to International Trade Payment
- Traditional Payment Methods
- LETTERS OF CREDIT AS METHOD OF PAYMENT
- Parties to the Letter of Credit
- Payments under Letters of Credit
- Costs and Benefits
- Types of Letters of Credit
- REVIEW OF L/C PROCEDURE AS EXPORTER AND AS IMPORTER
- Quotation
- Instructions for the Letters of Credit
- Checklist for Letters of Credit
- Document Preparation and Presentation
- Discrepancies
- LOOK AT VARIOUS TYPES OF L/C’s
- Revocable or Irrevocable
- Confirmed and Unconfirmed
- Restricted Letter of Credit
- SPECIAL TYPES OF LETTERS OF CREDIT
- Variations You Will See
- Revolving – Standby – Transferable
- Red Clause, Green Clause
- Time Drafts and Bankers Acceptances
- UNIFORM CUSTOMS AND PRACTICE FOR DOCUMENTARY CREDITS — RULES OF THE ARTICLES AND NOTE ON EACH ARTICLE
- International Standard Banking Practices (ISBP)
- Commentary on the UCC of the United States NOTE: Discussion on UCP 600
- TRANSACTION REVIEW – EXPORT
- Amendment to the Letter of Credit
- Checklists
- Documents Checklist (Commercial Invoice, Bill of Lading, Packing List, Insurance, etc…)
- Letter of Transmittal to Bank
- TRANSACTION REVIEW – IMPORT
- Parties Agree to Letter of Credit as Payment Method
- Buyer Applies for Letter of Credit
- Seller Receives and Accepts the Credit
- Nominated Bank Review Documents
- Issuing Bank Exchanges Documents for Payment
- Importer Picks up Goods
- CASE STUDY ON AN EXPORT LETTER OF CREDIT
- NON-TRADITIONAL PAYMENT METHODS