Methods of Payment and Letters of Credit

Description

Overview

We recommend this course for those working in international trade who are involved in the management and presentation of Letters of Credit.

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

This session includes a ‘hands-on’ practical session to solidify the learnings of the day and ensure successful completion of a document going forward.

What we will cover
• Foreign currency transaction mitigation
• Methods of Payment – risks and benefits
o Advance payment
o Documentary collection
o Open account
o Letter of Credit
• The Letter of Credit process
o Terminology
o Advantages and disadvantages
o LC types
o UCP 600 rules
o Management and presentation of the Letter of Credit
• Incoterms 2020 and insurance
• Shipping documents
• Best Practice for Letters of Credit – hints and tips
• Practical session

BCC Foundation Award
We offer a BCC Foundation Award for those who wish to gain a qualification through training. The award is given after 6 credits have been attained. If a delegate wishes to gain credits from attending a course they will be given assessment papers after each course they attend.

This course accounts to 2 Credits of the Award.

Please let us know before a course if you would like to apply for the award.