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Letters of Credit of IMPORTERS

Non-member price

£275.00 +VAT

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Places Available


Location: Severn House, Prescott Drive, Warndon Business Park, Worcester, Worcestershire, WR4 9NE

Start: 27th Jan 2020 9:30am to 4:30pm

Description

The main aim of our Letters of Credit training programme for importers, is to help you and
your key staff become expert at negotiating terms with suppliers, therefore lowering risk and improving your company’s position when importing goods.

• Demystify the letter of credit process, from bank applications to trade terminology.
• Reduce risk and learn to incorporate the most favourable terms for your business.
• Understand and select the most appropriate delivery terms (Incoterms) for international
shipments
• Fully understand, and learn how to finance, the trade gap from purchase to receipt of sale
funds.

This training is appropriate for purchasing and sales teams, finance departments and
logistics.

COURSE OUTLINE

This one-day interactive workshop is aimed at companies who source raw materials,
components or finished goods from overseas.
• Issues facing importers & suppliers
• Incoterms
o Functionality and Background
o The rules in detail
o Potential problems with EXW, FOB, CFR and CIF
o Using Incoterms in practice and with Letters of Credit
• Terms of Payment: Advance Payment & Open Account
• Documentary Collections and Bills of Exchange
• How to issue Letters of Credit (includes examples* and form filling)
• Types of letter of credit (Documentary and Standby)
• Negotiating the best terms for your business
• Requesting letters of credit for export sales
• Common documents
• Understanding the L/C rules – UCP600
• What happens in the event of discrepant documents being presented
• Using Letters of Credit to finance your Trade Cycle
• Structured finance case studies
• Hints & tips for reducing bank charges

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