Chamber Event

Methods of Payment & Letters of Credit Training Course

Tue 23 Mar, 2021
09:30 - 16:30
Virtual , via Teams
book your place Members £230+VAT | Non-Members £270+VAT

This one-day course 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. Essential learning for accounts, export and sales teams.

Contents:

  • Examination of documents for Advance Payment, Documentary Collections and Open Account
  • Types and levels of security
  • What is a Letter of Credit?
  • The 8 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 

Course Details:

This course will be delivered virtually with our trainer through Teams. We will send you the joining link, instructions, and your assessment to complete digitally in good time prior to the course date. The day will be broken up with plenty of comfort breaks and you will have ample time to ask all the questions you need. 

Award details:

This course is BCC Accredited. You will be awarded the Full BCC Foundation Award in International Trade when you complete 6 of these courses. We offer a 5% discount on all block bookings of 6 courses.

For more information please email Bethany Baines on the Events team on events@suffolkchamber.co.uk

book your place