Finance Option: Focusing on Letters of Credit
The purpose of the course:
Getting paid is a vital part of the sales transaction, so join us to explore the options, and reduce the costs involved in receiving payment. Understand how to improve your security of payment and the roles of the banks, so you realise how you can influence the speed of the movement of the money. We’ll help you understand the intricacies of both credit and collection transactions, so you can appreciate how to control your goods with your documents. Delegates will learn why, when and how to use Documentary Letters of Credit (L/cs). This masterclass will guide you through the complexities of L/c rules and regulations (UCP600), so you can be proactive in instructing your customer to encourage L/c clauses that work for you. The role of Documentary Collection will also be explained, as well as sight and term drafts, plus discounting. Practical tips are offered throughout the session, as well as real-life examples.
Benefits for your organisation:
Whether you are a small company, SME, or large global trader, getting paid is vital. Companies will learn how to get paid more swiftly and at the same time reduce those high bank charges. By understanding the intricacies of credit and collection transactions, you will be able to appreciate how to control the goods with your documents, giving you more security and speed of payment.
Who is this course for?
This course will appeal to those already using Letters of Credit and/or documentary collections, as well as those considering these payment terms. The mystery will be stripped away, so all attendees feel more confident using these instruments of payment.
• L/c formats and types, irrevocable and confirmed
• Opening and advising procedures, presentation of documents and time constraints
• L/c receipt and checking and amendments
• Sight and term, reimbursement
• Part shipment, stage payment, service L/cs
• L/c types, including back to back, transferable, revolving, standby
• UCP 600 Customs and practice for documentary credits
• Documentary collections, consigning, protesting
• URC522 rules for documentary collections.
By the end of the course, delegates will be able to avoid discrepancies, and instead be able to achieve right first time presentations, together with prompt payment. We’ll take the mystery away, so you can feel confident and in control. This course will ensure you gain an appreciation of the methods of payment. If you wish you can bring your own L/c examples to the course, giving you an opportunity to discuss your own experiences and horror stories!
HMRC have extended the deadline for customs training funding until 31 January 2021.
Make sure you are prepared and get grant funding to cover your training costs
whilst it is still available.
The funding will give you up to 100% of the cost of training for your employees,
up to a limit of £2,250 per trainee.
How to book
To book your place(s) please contact Rose Griffiths on 01223 209817 or email firstname.lastname@example.org including your company name, all delegate names and job titles, and a contact telephone number. Payment for the course is required at the time of booking.
Cambridgeshire Chambers of Commerce Clifford House, 2 Station Yard Oakington, Cambridge CB24 3AH
9.15am - 5.00pm
Cambridgeshire Chambers of Commerce
Pricing (Excl. VAT)