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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.

Topics Covered
  • 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.


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