Letter of credit training
This one day workshop covers the 5 main types of payment for exports, from advance payment to open account, including Sight Documentary Collection, Term Documentary Collection and Documentary Letter of Credit. It includes the use of Bills of Exchange with and without documents.
Over 75 percent of first presentations to banks against documentary letters of credit are rejected, resulting in delayed payments to exporters, additional costs and breached delivery deadlines. This course is suitable for all staff who need to have a clear understanding of the procedures required to ensure payments for goods sold on documentary credit terms. Knowledge and understanding is reinforced through the use of exercises, tips on getting the credit you want and working examples of documentary credits. Essential learning for accounts, export and sales teams.
What will you Learn ?
The Purpose of a Letter of Credit
The contents of a Letter of Credit
Types of Letters of Credit
Planning the Letter of Credit
Applying for a Documentary Letter of Credit
Checking the terms and conditions of a Letter of Credit