LETTERS OF CREDIT REFRESHER

Significant changes have been introduced under new International Chamber of Commerce (ICC) rules UCP 600, governing Letter of Credit Contracts, plus update to ISBP.

International Banks are also taking a hard line with certain Middle Eastern countries, where Export Edge has resolved major issues for our clients over the last 15 years.

Objectives

• To equip participants with the updated knowledge of Trade Finance operations for their company in an informed and effective manner;
• To reduce complexity and time consumption on complicated banking issues;
• To increase participant’s process efficiency through minimising discrepancies on presentations to banks for payment;
• To utilize new process improvements for operational efficiency.

Upon completion of the course, participants will be able to understand:
• Banking process and compliance requirements for Documentary Credit and Documentary Collection presentations.

COURSE OUTLINE

Documentary Credit Cycle
• Planning and Organising the process
• Application, Issuance, Shipments,
• Presentations and Settlement

ICC - UCP 600 & ISBP 681 rules
• Documentary Credit conditions explained
• Practical application of UCP

Variations in Documentary Credits
• Functioning of the Documentary Credits
• Confirmations to L/C’s
• Transferable Documentary Credits
• Back to Back Documentary Credits
• Revolving Documentary Credits
• Making use of SWIFT Banking formats

In Practice
• Management of functional roles
• Communications internally and with third parties
• Forms of verbal and written communication
• Verification of Documentation
• Effective document generation
• Case studies

Procedures and Systems to improve company efficiency
• Operating Procedures & Progress check lists
• Problem Solving

Managing Time
• Managing Deadlines and Critical Timescales
• Measuring Financial Performance

 

More course details (PDF)
(Contact us for booking)