Letters of Credit and Methods of Payment

The course provides an overview of all methods of payment when trading internationally to include the risks and benefits involved. It will then concentrate on the Letter of Credit aspect guiding you through the rules of managing a letter of credit, making sure documents are compliant and payment is successful.

Topics

• Foreign Currency Transaction Mitigation
• Methods of Payment – risks and benefits Advance Payment Documentary Collection Open Account Letter of Credit
• The Letter of Credit Process Terminology LC Types UCP 600 Rules Management and Presentation of the Letter of Credit
• Incoterms 2020
• Shipping Documents
• Best Practice for L/Cs – Hints and Tip

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