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IELTS Preparation in Dubai

Letters of Credit

Course Details

Session: 2 Days

Hours: 8 Hours /Day

Mode: Face to Face / online

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Dubai
United Arab Emirates

Letters of Credit

In this course, delegates will learn about all the underlying concepts involved in the process of creating a Letter of Credit. Delegates can learn the terminologies and significance of various documents, and learn how to prevent and handle discrepancies. Letter Of Credit Training is designed for participants to understand the mechanism of handling letters of credit. Experience the concept of Benefits of Using Letter of Credit under UCP 600, Payment Methods on Letter of Credit and a lot more.

By the end of this training course participants will be able to:

Define negotiation and Identify steps for proper negotiation preparation.
How to negotiate effectively with different personality styles.
Define principled negotiation and identify the four steps in the negotiation process.
Learn bargaining techniques and strategies of inventing options for mutual gain and move negotiations from bargaining to closing.

Course Content

INTRODUCTION/DECISION CRITERIA
-Decision Making Criteria and Payment Methods
-Risk to International Trade Payment
-Traditional Payment Methods

LETTERS OF CREDIT AS METHOD OF PAYMENT
-Parties to the Letter of Credit
-Payments under Letters of Credit
-Costs and Benefits
-Types of Letters of Credit


REVIEW OF L/C PROCEDURE AS EXPORTER AND AS IMPORTER
-Quotation
-Instructions for the Letters of Credit
-Checklist for Letters of Credit
-Document Preparation and Presentation
-Discrepancies

LOOK AT VARIOUS TYPES OF L/C’s
-Revocable or Irrevocable
-Confirmed and Unconfirmed
-Restricted Letter of Credit


SPECIAL TYPES OF LETTERS OF CREDIT
-Variations You Will See
-Revolving – Standby – Transferable
-Red Clause, Green Clause
-Time Drafts and Bankers Acceptances



PRACTICE FOR DOCUMENTARY CREDITS — RULES OF THE ARTICLES AND NOTE ON EACH ARTICLE
-International Standard Banking Practices (ISBP)
-Commentary on the UCC of the United States NOTE: Discussion on UCP 600



TRANSACTION REVIEW – EXPORT
-Amendment to the Letter of Credit
-Checklists
-Documents Checklist (Commercial Invoice, Bill of Lading, Packing List, Insurance, etc.)
-Letter of Transmittal to Bank

TRANSACTION REVIEW – IMPORT
-Parties Agree to Letter of Credit as Payment Method
-Buyer Applies for Letter of Credit
-Seller Receives and Accepts the Credit
-Nominated Bank Review Documents
-Issuing Bank Exchanges Documents for Payment
-Importer Picks up Goods

Sample CASE STUDIES ON AN EXPORT LETTER OF CREDIT

Samples of NON-TRADITIONAL PAYMENT METHODS


Who should Attend:
No prerequisites required
-Professionals of all levels, Junior, Mid and senior Managers, Members of public, Senior students.
-Anyone who wishes to be an expert on letter of credit and UCP 600
-Bankers and Finance Managers specifically working in in letter of credit and UCP 600
Training Method

The training will be conducted in a friendly, inclusive and professional atmosphere, which is conducive for different learning styles, but respects each attendee as an individual and ensures each one is challenged and achieve maximum benefit from the course. Our main goal is that attendees will be highly engaged and encouraged to be participative.

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Letters of Credit