International Letters of Credit Course
A letter of credit is a binding agreement used to facilitate payment through a bank for an international trade, a sale between the seller and the buyer.
Imagine not getting paid for your international sale through a letter of credit! Unfortunately, it happens.
Learn to comply with export and import Letter of Credit requirements to ensure prompt payment for your shipments or documentation needed for your import transaction. Learn why a bank could declare a document discrepant when a number has been rounded up (or down)!
Learn the basic terminology and significance of various documents, and learn how to prevent and handle discrepancies. Everyone involved in the international sale or purchase will benefit from this Letter of Credit course. This Letter of Credit course will help ensure exporters receive payment for their shipments, get paid faster and reduce bank fees. Importers will learn about their suppliers’ documentary requirements. Plus, discuss:
- Selecting the most appropriate payment method for your company, and
- Compare costs and risks of various Letter of Credit options
Included in every registration is a detailed reference book with export and import letter of credit examples, checklists, documentation samples, and rules. The rules are used by banks to decide whether or not to pay the seller based on the documentation submitted:
- Uniform Customs & Practice for Documentary Credits (UCP 600)!
- International Standby Practices (ISP98) for standby letters of credit!
Our Letters of Credit Course Will Benefit Importers and Exporters
In our Letters of Credit course, the instructor will guide you through the process of reviewing letters of credit using checklists and sharing sample documentation prepared for the letters of credit examples in the reference book included with course. The review and the samples are supplemented by the International Chamber of Commerce’s rules for letters of credit known as UCP 600. These are the rules the evaluating banker will use to determine whether or not there are discrepancies in the documentation presented to the bank. If the bank determines there are discrepancies, of course there are delays and fees imposed by the bank.
This practical approach to examining letters of credit in the context of an export sale or an import purchase order has been found to be very useful to those who have attended. Throughout the day, our instructor will answer your questions as well as provide you with an in-depth review of how to structure a letter of credit to you and your firm’s advantage. Each letter of credit is unique, each banker’s approach to reviewing your documentation is unique even though there are uniform rules to be used to evaluate letter of credit documentation. Learn about the rules and the language that can protect your firm and save you time.
Our Letter of Credit course is excellent for beginners and serves as a refresher and update for experienced professionals. Our instructor will set the course level based on attendees’ needs.
Employees of Exporters and Importers who are involved in Purchasing, Sales & Marketing, Logistics, Traffic, Customer Service, Accounting, Credit Managers, Controllers, Engineering and Legal personnel will benefit from this course.
Learn how to communicate with your Customs Broker or Freight Forwarder regarding your import or export transaction under a letter of credit.
Are you a Customs Broker or a Freight Forwarder? If yes, then learn about your customers’ obligations regarding documentary requirements and time limits imposed on them stated in a letter of credit.
