This one-day workshop covers the five main types of payment for exports, from advance payment to open account, including Sight Documentary Collection, Term Documentary Collection and Documentary Letters of Credit.
It includes the use of Bills of Exchange with and without documents.
Over 75 percent of first presentations to banks against Documentary Letters of Credit are rejected, resulting in delayed payments to exporters, additional costs and breached delivery deadlines. This course is suitable for all staff who need to have a clear understanding of the procedures required to ensure payments for goods sold on documentary credit terms. Knowledge and understanding is reinforced through the use of exercises, tips on getting the credit you want and working examples of documentary credits.
• Examination of documents for Advance Payment, Documentary Collections and Open Account
• Types and levels of security
• What is a Letter of Credit?
• The eight main types of Letters of Credit
• Letter of Credit administration and procedure
• Letters of Credit costs Letter of Credit content – getting the credit you want
• What can go wrong?
• Top tips for success every time UCP600/ISBP
It is ideal for personnel who administer the documentation, sales, purchasing, despatch, logistics, Freight Forwarders and companies embarking into the export world. This is also an excellent refresher for those already working with Letters of Credit and for those going into new territories. Essential learning for accounts, export and sales teams.