Documentary Letters of Credit & Methods of Payment
When? Monday 4th February 2019 09:30 - 16:30
Where? Mid Yorkshire Chamber of Commerce, 1st Floor, Unit 3, Pennine Business Park Longbow Close, Bradley Road, Huddersfield, HD2 1GQ
The BCC now has ten nationally accredited core courses. Together, these form an export curriculum that provides invaluable basic skills for small and large companies alike. Candidates must demonstrate knowledge of the subject and their performance will be marked by external examiners on the completion of each module. Successful candidates will receive a certificate; completing six or more courses will result in the candidate achieving a nationally recognised Foundation Award in Exporting. These courses are suitable for both experienced exporters and those with no previous knowledge of exporting.
Documentary Letters of Credit
The learner will:
- Be able to identify the L/C procedure and identify the parties to an L/C
- Name the widely accepted set of rules which govern letters of credit.
- Describe the four main parties in the L/C transaction and their role
- Be able to identify the different methods of payment and the different types of Letters of Credit
- Name 3 types of letter and explain how they work.
- Explain the term ‘Confirmed letter of credit’ and its implications.
- Explain how assignment of funds works under a letter of credit.
- Be able to comply with the requirements of the Letter of Credit
- Be able to name which three dates within a Letter of Credit must be complied with.
- Be able to identify if a bill of lading complies with Letters of credit and if not list any discrepancies.
Methods of Payment
The learner will:
- Be able to identify the different methods of payment used in international trade
- Describe the various methods of payment
- Explain the circumstances in which one method of payment is preferred against another and the risks involved
- Describe the advantages and disadvantages of different methods of payment
- Be able to identify and understand the necessary documentation for payment
- Prepare and produce the appropriate documents required for payment
- Describe any additional or supporting documentation required e.g. insurance certificate, inspection certificate, packing list etc
- Be able to comply with the requirements of different methods of payment
- Prepare and present required documents in accordance with payment method terms
- Describe the roles of Banks and other agencies involved in the payment process
Individual full day courses cost £270 + VAT (members) / £310 + VAT (non members).
Courses are priced individually. A discount can be offered when booking 6 or more modules or booking 3 or more delegates on the same course.
This is a full day course. A lunch and light refreshments will be provided. Free parking is available at our premises.
Please download our Export Booking Form or contact our export team to discuss training.