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Documentary Letters of Credit

Documentary Letters of Credit

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

25th February, 2020 09:30-16:30 Training 195.00-250.00
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. 

This course will be of huge benefit to those involved in Export Sales, Shipping, Accounts and International Customer Services. 
Course 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 Outline
Morning Session
  • The course will concentrate on Letters of Credit. This is a method of paymentcommonly 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, Confiming 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

Trainer Profile

The course will be delivered by Ken Lofthouse. Ken has been involved in International Trade Training for over 15 years. During that time he has delivered training on behalf of Scottish Enterprise, British Chambers of Commerce, Scottish Chambers of Commerce, The European Union (Eastern Europe projects) and many Blue Chip private companies.
Prior to moving into training Ken worked for 25 years as a Senior International Trade Manager with the Diageo Spirits Group. Ken is also a member of the Institute of Export.

Business Comment

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