The Essential Guide to Letters of Credit for Importers

Letters of credit training for importers will help you and your key staff become expert at negotiating letter of credit terms with suppliers. You will therefore lower risk and improve your company’s position when importing goods.

How does letter of credit training for importers benefit your business?

  • 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 will tailor the course content to 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 so they are able to apply their learning to real-life situations.

Accessible letter of credit training

We deliver our Essential Guide to Letters of Credit programmes virtually via video conferencing applications such as Zoom or Microsoft Teams. The training can be delivered to groups of up to twelve people, wherever they are located.

Flexible letters of credit training options for your business

Our standard letters of credit training programme is delivered over two half day sessions, so delegates can digest and have time to reflect between modules. The content is fully customisable however, with the option for delivery in short, snappy sessions or in more depth over three or four half-days.

All programmes include an overview of the ICC (International Chamber of Commerce) rules, Uniform Customs and Practice for Documentary Credits (UCP 600). The UCP 600 publication is available from the ICC website.

We can help you to choose the best letter of credit training option to maximise value to your business.

Contact us to discuss your requirements.

The Letters of Credit training for importers 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 importers across the UK including London, Manchester, Surrey, Leicester, Kent, East Anglia and Yorkshire.

We also deliver letters of credit training to importing organisations in global locations, including Europe, North America, Middle East and Asia.

Read testimonials to see how our clients rate our courses.

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