Letter of Credit Process for Import & Export

Letter of credit process course for international trade to provide a step-by-step guide on how to deal with Documentary Letters of Credit – from receipt of order to successful presentation. Specific focus on a real case history of a Letter of Credit gives delegates the opportunity to increase their awareness and skills of the requirements involved with using letters of credit.

The course will provide you with a working knowledge of Documentary Letters of Credit, and greater level of confidence to make successful presentations. It will demonstrate how to reduce errors, the role of the contracting parties, and how the procedure works and what to do if the process goes wrong.

LEARNING OUTCOMES:

• Be able to identify the L/C procedure and identify the parties to an L/C
• Know and apply the widely accepted set of rules which govern letters of credit: UCP 600 Uniform Customs and Practice for Documentary credits.
• Describe the four main parties in an L/C transaction and their roles.
  • Applicant
  • Beneficiary
  • Issuing bank
  • Advising bank
• Delegates will be able to name the types of letter of credit and explain briefly how they work.
  • Transferable Letters of Credit
  • Standby Letters of Credit
  • Revolving Letters of Credit
  • Red Clause Letters of Credit
  • Back to Back Letters of Credit
• 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
  • Dates of Compliance for Letters of Credit
• Be able to examine an attached bill of lading and letter of credit and ensure that they comply with the terms of the letter of credit and list any discrepancies.

Documentary letters of credit provide confidence to counter-parties engaged in export and import transactions and are issued under universally accepted rules set out in UCP600 and issued by the International Chamber of Commerce. Now learn how to use DLCs for your organisation.

This Course is For:

• All businesses involved in exporting
• Personnel responsible for shipping, export sales, credit control
• Export administration
• Newcomers to export.

This letter of credit process for international trade training counts as 1 credit toward the 6-credit BCC Foundational Award in International Trade (see information below). Other international trade organisations are currently offering this identical course for £99 or £149 per delegate – our price to members is £169 and to non-members £199.

About the BCC Foundation Award:

The BCC (British Chambers of Commerce) has identified a curriculum of level 2 (NVQ terminology) courses which form the basis of a starting point for company employees to effectively support their employer’s importing/exporting practices. The courses are the initial and central component of the new British Chambers National Trade Training curriculum which will be accredited by BCC and delivered by the Accredited Chambers and their professional registered Trainers across the UK.

Each BCC accredited course includes the quality, assessment and training processes developed over a number of years, which underpins the delivery of the BCC national Export Documentation service

• Qualifying Courses Count for 1 Credit and Include:
  • Introduction To Exporting
  • Exporting Documentation
  • Customs Procedures & Documentation
  • Incoterms
  • Importing Procedures
  • How to Use Agents & Distributors
  • Preference Rules of Origin
  • Methods of Payment (TBC)
  • Documentary Letters of Credit (TBC)