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Methods of Payment & Letters of Credit

Methods of Payment & Letters of Credit


3rd March, 2022 09:30-16:00 Training 250.00-395.00
This course is included in our three places for the price of two offer, on international courses.


The course provides an overview of all methods of payment when trading internationally to include the risks and benefits involved. It will then concentrate on the Letter of Credit aspect guiding you through the rules of managing a letter of credit, making sure documents are compliant and payment is successful.

What will you learn?

• Foreign Currency Transaction Mitigation
• Methods of Payment – risks and benefits
  • Advance Payment
  • Documentary Collection
  • Open Account
  • Letter of Credit
• The Letter of Credit Process
  • Terminology
  • LC Types
  • UCP 600 Rules
  • Management and Presentation of the Letter of Credit
• Incoterms 2020
• Shipping Documents
• Best Practice for L/Cs – Hints and Tips

Who should attend?
This course is suitable for those working in International Trade and are involved in the management and presentation of Letters of Credit.

Course Director: Sue Grewcock

Train your team:
This course can be delivered on site for corporate teams and tailored to your specific requirements. For details contact

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

Course duration: 1 day

There is an optional exam (open book) at the end of the course, this is marked by the British Chamber of Commerce (BCC) and gives a certificate of competence. These exams (on passing 6 subjects) will lead to a BCC Foundation Award in International Trade which is equivalent to a SVQ qualification.

Funding for International Trade training courses:
You may be eligible for grant funding to cover the cost of this training.  Grant funding, available from HMRC, can be applied for via the Customs Grant Scheme and is administered by PWC. 

Please visit grants available to find out more about each grant, or use the grant checker to find out which grants you can apply for.

There are grants available of up to £1000 per business for trader awareness training.  Please note that funds are limited so we recommend you apply as early as possible.

Business Comment

Business Comment is the Edinburgh Chamber of Commerce’s bi-monthly magazine. It provides insight on Edinburgh’s vibrant business community, with features on the city’s key sectors, interviews with leading figures and news on new business developments in the capital.
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