Letters of Credit
Glasgow Chamber of Commerce, 30 George Square, Glasgow G2 1EQ
From: Tuesday 21 March 2017 09:30 To: Tuesday 21 March 2017 16:30
Letters of Credit present tremendous opportunities and challenges to the exporter.
They represent a relatively secure method of payment but a very high proportion of documents presented to UK banks are still rejected on first presentation - approximately 80%! 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.
- Why we use them?
- A review of payment risk and the Payment Risk Ladder
- Types of Letters of Credit
- The parties involved and their roles and responsibilities
- The role of the Issuing, Paying and Confirming Banks
- An introduction to the rule book - UCP 600
- Overview International Standard banking practice book (ISBP)
- The Banks doctrine of strict compliance
- Practical exercises relating to UCP 600 and preparing Documents
Suitable for: Accounts, Sales, Buyers, Shipping Technicians and Freight forwarders.