Understanding Documentary Letters of Credit – Paid for Event

Upskill your team’s knowledge with Subsidised , fully Accredited Training from Surrey Chambers of Commerce.

Documentary Letters of Credit are a preferred method of payment in international trade, and commonly used worldwide. Governed by ICC UCP600 Rules, a Letter of Credit is the safest way of ensuring exporters get paid and importers receive their goods on time.
They are often regarded as expensive to use and complicated in nature and as such are easily disregarded in favour of other simpler payment alternatives, however if fully understood, Letters of Credit can offer increased protection against non-payment especially when trading with new customers

Delegates: open to anyone who deals with International Trade Finance and/or Letters of Credit
Grant funding: Eligible for £50 million HMRC training funding (www.customsintermediarygrant.co.uk)
Course pre-requisites: none.
Course content is based on the following topics:

Definition and purpose of a Documentary Letter of Credit
Why should consider using Letters of Credit as a payment method
What a Letter of Credit looks like
Understanding of terminology within a Letters of Credit
Process flow of a Letter of Credit
Types of documents used
Roles pf Importer / Exporter / Banks
Key aspects within L/C that need focus
Common document discrepancies and how to avoid them
The different types of Letters of Credit
What a confirmed letter of credit means
Using L/Cs to obtain finance
Ongoing help and support from Surrey Chambers
Assessment: Optional formal exam can be taken to work towards a BCC ‘Foundation in International Trade’ award

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