The Essential Guide to Letters of Credit for Importers

The main aim of our Letters of Credit training course 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. You will also receive best practice tips for requesting trade finance facilities from your bank.

The course provides a comprehensive explanation of the Incoterms® rules from both an importer’s and financier’s perspectives.

  • 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.
  • Fully understand, and learn how to finance, the trade gap from purchase to receipt of sale funds.
  • Understand how the Incoterms® rules implicate your overseas trade.

This is essential training for any company sourcing raw materials, components or finished goods from overseas, particularly from suppliers based in the Far East and Asia.

We’re unique in tailoring our course content to suit your business, creating scenarios that are familiar to you and the industry in which you operate. This makes our training memorable, valuable and engaging for your employees, allowing them to apply their learning to real-life situations.

We can deliver training at your premises, to individuals or groups of up to ten people. It’s fully customisable, delivered in short snappy sessions or in more depth, incorporating additional modules over two days. The choice is yours – and we’re always happy to advise you on the ideal delivery length according to the needs of your business.

Contact us to discuss your requirements.

The Letters of Credit training for importers equates to 7 hours of CPD activity with certification and will cover the following key areas:

  • What is a Letter of Credit for Importing?
  • Types of Letter of Credit
  • How does a Letter of Credit work?
  • Letter of Credit charges

By the end of the course you and your employees will be familiar with…

  • Issues facing importers & suppliers (and how to deal with them)
  • Trade transaction strategies: the ‘Risk Ladder’
  • Terms of payment: advance payment & open account
  • Common shipping documents
  • Terms of delivery (Incoterms)
  • The trade gap – and how to finance it
  • How to deal with your bank
  • Negotiating the most favourable letter of credit terms for your business
  • Issuing letters of credit (includes examples and form filling)
  • The UCP 600 rules (Uniform Customs & Practice for Documentary Credits)
  • Handling discrepancies under letters of credit
  • Documentary collections
  • Structured finance case studies
  • Hints & tips for reducing bank charges

We provide Letters of Credit Training for organisations across the UK including London, Manchester, Surrey, Leicester, Kent, East Anglia and Yorkshire.

Read testimonials to see how our clients rate our courses.

We can help you

Call us on +44 (0)800 043 4052, complete our contact form or email us to discuss your requirements.