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Letters of Credit

in Institute of Credit Management (England)

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£340 + VAT Special offers 

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1 Day

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Course objectives:

Over 50% of submissions to banks under Letters of Credit fall on first presentation. This is due to lack of experience or understanding in handling these very effective export payment instruments. Delegates will receive an update on the latest techniques and practices to assist in preparing and presenting LOCs in a format acceptable to the banks.

Institute of Credit Management

The Institute of Credit Management (ICM) is the largest professional credit management organisation in Europe. It represents the credit profession across trade, consumer and export credit, as well as ...

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Course details

Type Training Duration 1 Day
Method / place Contact course provider Classes
Suitability All those involved in negotiating payment/credit terms and those responsible for export documentation and accounting functions.
Course objectives Over 50% of submissions to banks under Letters of Credit fall on first presentation. This is due to lack of experience or understanding in handling these very effective export payment instruments. Delegates will receive an update on the latest techniques and practices to assist in preparing and presenting LOCs in a format acceptable to the banks.
Price £340 + VAT
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Course programme

Letters of Credit

  • Types of Documentary Credit / Procedure Flow
  • Uniform Customs and Practice for Documentary Credits - UCP 600
  • Briefing on UCP Revision
  • How to Guide Customers Opening Letters of Credit and How to Check the LOC on Receipt
  • Amendments
  • International Standard Banking Practice protocol
  • Preparation of Documents
  • Checking and Presenting Documents
  • While the emphasis will remain on standard paper presentations, electronic presentation will also be covered, although the new ‘eUCP’ rules will mainly be relevant to larger exporters.
  • Practical Exercise in Checking a Letter of Credit on Receipt and Preparation of All Documents Required
  • What to do if Things go Wrong!
  • How to handle discrepancies and reduce payment delays

     
     
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    On Institute of Credit Management

    Provider description
    The Institute of Credit Management (ICM) is the largest professional credit management organisation in Europe. It represents the credit profession across trade, consumer and export credit, as well as in related activities such as collections, credit reporting, credit insurance and insolvency. A centre of expertise for all matters relating to credit management for more than 50 years, the ICM is the only such organisation accredited by the Qualifications and Curriculum Authority (QCA) as an awarding body. The ICM offers a range of services, including a recruitment consultancy, training, conferences and seminars, the industry leading Credit Management magazine, bookshop, technical advisory service and 26 local branches.

    The ICM's Mission: The Institute Credit Management (ICM) promotes excellence in credit management and raises awareness of its vital role in business and the community.

    The ICM's Vision: To empower the credit profession by:

    * being the centre of expertise for credit management.
    * gaining universal recognition that sound credit management keeps business in business.
    * maintaining relevant and up-to-date qualifications and occupational standards.
    * being recognised and respected as its voice.
    * supporting the career development of all people who work in credit management.
    * improving skills and standards through a growing membership.
    * continuously improving our products and services and being the first-choice provider.
    * promoting credit management through local, national and international networks.

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