Letters of Credit and Method of Payment Masterclass

This course is suitable for those working in International Trade and are involved in the management and presentation of Letters of Credit.

The course provides an overview of all methods of payment when trading internationally to include the risks and benefits involved. It will then concentrate on the Letter of Credit aspect guiding you through the rules of managing a letter of credit, making sure documents are compliant and payment is successful.

The agenda and course objectives are as follows:

Foreign Currency Transaction Mitigation
Methods of Payment – risks and benefits
Advance Payment
Documentary Collection
Open Account
Letter of Credit
The Letter of Credit Process
Terminology
Advantages and Disadvantages
LC Types
UCP 600 Rules
Management and presentation of the Letter of Credit
Incoterms 2020 and Insurance
Shipping Documents
Best Practice for L/Cs – Hints and Tips
Practical Session.