About the course

This course is suitable for those working in International trade and are involved in the management and presentation of letters of credit.

It will provide an overview of all methods of payment when trading internationally to include the risks and benefits involved. It will then guide you through the rules of managing a letter of credit making sure documents are compliant and payment is successful.

This course will count as 2 credits towards the BCC Foundation Award in International Trade.

Course objectives

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 and Insurance

Shipping documents

Best practice for letters of credits – hints and tips

Practical session

This full day course will start at 9.30am with morning and afternoon breaks and 45 minutes for lunch.