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Letters of Credit


Institute of Export & international trade

Summary

Price
£478.80 inc VAT
Study method
Classroom
Duration
1 Day, Part-time/Full-time
Qualification
No formal qualification
Additional info
  • Certificate of completion available and is included in the price

2 students enquired about this course

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Location & dates

Location
Start date
End date
11/11/2020
11/11/2020

End date: 11/11/2020

Additional info: 9.45am to 4.30pm, lunch provided

Address
St Pancras Meeting Rooms
St Chads Street
Central London
London
WC1H8AG
United Kingdom
Enquire for dates
Address
Renaissance
Blackfriars Street
MANCHESTER
Lancashire
M32EQ
United Kingdom

Overview

Importing and exporting involves risks. Exporters run the risk of buyers failing to pay for goods, while importers may risk paying but never receiving anything. Because of the distances involved, it may be difficult to resolve any disputes.

One way of reducing the risks is to use a letter of credit. This can offer a guarantee to the seller that they will be paid, and the buyer can be sure that no payment will be made until they receive the goods.

There are several different types of letters of credit available to use, depending on the circumstances.

This course will explain the roles of the parties, clarify the procedures and recommend practical ways in which exporters can establish best practice in order to ensure payment every time.

Description

Learning outcomes

  • Payment options in International trade
  • The role of Letters of Credit in International Trade
  • The benefits of Letters of Credit to buyer and seller
  • Roles and responsibilities of buyer and seller in a Letter of Credit
  • The role of the Banks
  • Making Letters of Credit work for all parties
  • Avoiding discrepancies
  • Common documentation and common terms
  • Strict compliance – the role of UCP 600
  • Generating finance and cash flow within a Letter of Credit
  • The different types of Credit

Who is this course for?

Who should attend

This course is most suitable for new exporters of people working in export but never had official training that deal with or get involved with Letters of Credit.

The departments within a business that this course would apply to are:

  • Customer Services
  • Export Administration
  • Shipping
  • Purchasing
  • Accounts and Finance
  • Export Sales Administration
  • Export Sales Management
  • Import Administration
  • Logistics
  • Distribution
  • Legal

Questions and answers

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What does study method mean?

Study method describes the format in which the course will be delivered. At reed.co.uk courses are delivered in a number of ways, including online courses, where the course content can be accessed online remotely, and classroom courses, where courses are delivered in person at a classroom venue.

What are CPD hours/points?

CPD stands for Continuing Professional Development. If you work in certain professions or for certain companies, your employer may require you to complete a number of CPD hours or points, per year. You can find a range of CPD courses on reed.co.uk, many of which can be completed online.

What is a ‘regulated qualification’?

A regulated qualification is delivered by a learning institution which is regulated by a government body. In England, the government body which regulates courses is Ofqual. Ofqual regulated qualifications sit on the Regulated Qualifications Framework (RQF), which can help students understand how different qualifications in different fields compare to each other. The framework also helps students to understand what qualifications they need to progress towards a higher learning goal, such as a university degree or equivalent higher education award.

What is an ‘endorsed’ course?

An endorsed course is a skills based course which has been checked over and approved by an independent awarding body. Endorsed courses are not regulated so do not result in a qualification - however, the student can usually purchase a certificate showing the awarding body’s logo if they wish. Certain awarding bodies - such as ABC Awards and TQUK - have developed endorsement schemes as a way to help students select the best skills based courses for them.

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