Documentary Letters of Credit

Date:23/06/2020 (09:30 - 16:30)

Status:ACTIVE | 5 or more places remaining

Member Rate: £195.00 +VAT | Non Member Rate: £250.00 +VAT |

Location:
Edinburgh Chamber of Commerce
40 George Street
EDINBURGH
Midlothian
EH2 2LE

Map: Click here

Overview:
 
This highly interactive one-day training course will look at the 4 main payment methods used in International Trade transactions with a focus on Letters of Credit. This course aims to provide delegates with the knowledge to process this payment procedure using best practice.
 
Morning Session:
 
The course will concentrate on Letters of Credit. This is a method of payment commonly used by overseas buyers which often causes UK exporters difficulties (research by banks indicate that 70% of all sets of documents presented to banks against Letters of Credit are rejected as they are discrepant) this delays payment to the Exporter and prevents the buyer from being able to import the product.
  • The advantages and disadvantages of the 4 main methods of payment will be explained
  • The Legal Definition of a Letter of Credit will be explained
  • UCP (600) the rules and regulations pertaining to Letters of Credit will be explained
  • The parties involved and their role in the Letter of Credit transaction, Advising Bank, Issuing Bank, Confirming Bank etc. will be explored
  • The Documents commonly called for under Letters of Credit will be explained as will costs involved, time frames and from whom they are obtained
  • The critical time factors which apply to Letters of Credit will be investigated
 
Afternoon Session
  • Delegates working in teams will be asked to produce documents for and negotiate a Letter of Credit
Who should attend?

This course will be of huge benefit to those involved in Export Sales and administration , Shipping, Accounts and International Customer Services. 
 
Learning outcomes:
 
Delegates will at the end of this course:
 
  • Understand the 4 main methods of payment used during International Trade Transactions and the advantages of each
  • Have a sound knowledge of the documents, procedures, costs and time frames involved in the successful negotiation of a Letter of Credit
  • Have practical experience in a safe environment of producing documents for and negotiating a Letter of Credit using the skills obtained from the morning session.
Course director: Ken Lofthouse

Train your team:

This course can be delivered on site for corporate teams and tailored to your specific requirements. For details contact training@edinburghchamber.co.uk

The ECC training experience:
  • Expert trainers - Passionate specialists who keep up to date with the latest trends in their field
  • Quality delivery - Trainers are assessed annually on the quality of their delivery and delegate engagement
  • Practical training methods - Theory and practical based training to take back to the office
  • Small class sizes - No more than 15 people to ensure you get the most from our trainers
  • Wide breadth of topics - ECC offer over 40 different essential business training courses covering everything from Leadership and Management through to Digital and International Trade
  • 3 learning levels – Beginner /Introductory, Intermediate and Advanced
Cancellation Policy: Click Here


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Terms and Conditions
Full payment must be received when booking.

Events Cancellation Policy
Bookings cancelled more than 7 days prior to event/training course will receive an 80% refund. Specific cancellation policies may apply to certain events. Please check individual events details for more information.

Prices exclude VAT
If paying online VAT at 20% will be added before the payment is taken.