Letters of Credit

As a payment method for your international transactions

International Letters of Credit Course

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. See Schedule ->

Question: Are there different types of letters of credit?

Answer: Yes!


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

What you will learn

  • Understand the Letters of Credit Requirements
  • How to minimize discrepancies and risks
  • Different types of Letters of Credit
  • Consider other payment methods
  • Select most appropriate method of payment for your company
  • Compare the costs and risks of various LC options
  • UCP 600 included in reference book!
  • ISP 98 included in reference book!

Letters of Credit Course Will Benefit

Employees of Exporters, employees of Importers, Purchasing, Sales/Marketing, Logistics, Traffic, Customer Service, Accounting Department, Credit Managers, Controllers, Engineering, Legal personnel.

If you are a Customs Broker or Freight Forwarder you will benefit too; you are involved with the responsibility for International Documentation, ensuring shipments are released or loaded according to the deadlines imposed in the letter of credit as well as the regulations.

Letters of Credit course is excellent for beginners and also serves as a refresher for experienced professionals. Instructor will level set the course based on attendees.

Reasons why you should consider the Letters of Credit Class

  1. Compare risks and costs of different letters of credit
  2. Reduce your Accounts Receivable
  3. Learn to avoid discrepancies that will delay orders & payments
  4. Learn to insure you receive payment for all shipments
  5. Learn to get paid faster and lower bank fees

*Register at least 1 month in advance for $50 discount

Certificate Issued Upon Completion

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

$595.00
Per Person

Small Class Size
6.5 Hrs Teaching
Printed Book Included
Certificate of Completion
6.5 CES/CCS/CEU Credits

Full-Day Class

Register 30 days in advance & Save $50
Seminar Time: 8:30am – 4pm Local Time
Webinar Time: 8:30am – 4pm CT
Two 15min breaks (am/pm), 1hr lunch

Schedule:

(click date details)

LocationDate
Chicago, ILFebruary 18, 2020
Philadelphia, PAMarch 24, 2020
WebinarMarch 26, 2020
Charlotte, NCApril 20, 2020
Milwaukee, WIMay 12, 2020
WebinarMay 12, 2020

Letters of Credit in International Trade
Authors:
Petersen & Novak

Book included with registration!
Can’t attend? Click here to purchase book

Earn Education Credits

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