How to Handle Letters of Credit

Are you regularly receiving or handling Letters of Credit from customers in new or challenging markets?

Our popular in-house training course will help you to reduce the significant time, risks and costs associated with Letters of Credit.

Your key people will receive training delivered in a highly interactive, practical and engaging format delivered by experienced banking professionals, enabling you to

• negotiate the most favourable terms for your business
• select the most suitable banks to handle your documents
• accurately factor the costs into your selling price
• minimise the need for costly amendments
• prepare documents which comply with the most challenging of terms

Take a look at what our clients think..... here!

COURSE OUTLINE

A Letter of Credit course will benefit all key personnel engaged in the Letters of Credit process, including Export Sales, Project Managers, Export Administrators, Finance, Customer Services and Shipping.

The following topics are covered:

• Methods of Payment - the 'Risk Ladder'
• Documentary Collections & Bills of Exchange
• What is a Letter of Credit?
• How Letters of Credit work
• Understanding the jargon - L/C terms and expressions
• How to request a workable Letter of Credit from your customer
• Confirmed Letters of Credit - why use them and what are the cost implications?
• Using L/Cs to decrease DSO (days sales outstanding)
• L/C bank charges - calculating and minimising costs!
• How to deal with the banks - handy hints and tips
• Common problems and discrepancies... and how to avoid them
• Understanding the rules - UCP 600
• Techniques for preparing and presenting documents to the bank
• Checking the documents - what the bank is looking for!
• Discrepancies - what to do if things go wrong!
• Letter of Credit examples and exercises*

* We will be very happy to develop exercises and case studies based on your own examples of Letters of Credit or export sales contracts.

WHAT ELSE IS INCLUDED

All delegates will receive:

• Detailed course notes
• Copies of the slides
• A toolkit including templates and checklists
• A copy of the ICC 'rules' - UCP600
• A personalised Certificate of Training

Whether you require an introductory course for staff new to Letters of Credit or an 'advanced' workshop for more experienced people requiring a refresher and detailed insight into current practices and issues, we can deliver training tailored to your specific business needs.

We will help you to take control of the whole process from Letter of Credit issuance through to presentation of documents to the bank.

We can help you.