Using Letters of Credits and Drafts Training Course
Introduction to Letters of Credit (LCs): Understanding what LCs are, their purpose, and their benefits in international trade.
Types of LCs: Learning about different types of LCs, such as Revocable, Irrevocable, Confirmed, and Unconfirmed LCs.
Key Terminology: Familiarizing with the terminology used in LC transactions.
Parties Involved: Identifying the roles and responsibilities of the various parties involved in an LC transaction.
Issuing and Managing LCs: Understanding the process of issuing, amending, and negotiating LCs.
Required Documents: Knowing the documents required for LC transactions and how to prepare them.
Compliance Requirements: Learning about the compliance requirements, including UCP 600 and ISBP guidelines.
Avoiding Discrepancies: Best practices for preparing documents to avoid common mistakes and discrepancies.
Handling Disputes: Procedures for handling disputes and resolving issues that may arise during the LC process.
Understanding Letters of Credit: Learn the purpose and importance of letters of credit in international trade.
Drafting Letters of Credit: Gain skills in drafting letters of credit, ensuring they meet the requirements of all parties involved.
Document Preparation: Learn how to prepare and present supporting documents to avoid discrepancies.
Discrepancy Management: Understand how to handle discrepancies and resolve issues that arise during the letter of credit process.
Drafts and Payments: Learn about the use of drafts (promissory notes) and how they facilitate payments in trade transactions.
Regulatory Compliance: Ensure compliance with international rules and standards, such as UCP 600 and eUCP.
Risk Management: Understand how letters of credit and drafts mitigate risks in international trade.
Practical Application: Apply knowledge through real-world scenarios and case studies to solidify understanding.
Options available for international trade.
Terminology, structure, dynamics and content of a letter of credit.
Importance of the purchasing contract in creating a workable L/C.
UCP 600- the rules for letters of credit.
Types of letters of credits.
Bills of exchange (Drafts).
The roles of drafts in conjunction with letters of credits
BA (Supervisor Assistant -Chief Supervisor).
BSC Computer (Programmer Assistant- Senior Programmer).