Training

Letters of Credit and Methods of Payments – Accredited Foundation Award in International Trade

Ticket Quantity:

Subtotal: Member: £275, Non Member: £325

Booking Deadline: 22 November 2023

With four modules delivered in concise technical sessions, the Foundation Award in International Trade breaks fundamental technical topics into easy to understand components. It has been specifically designed to meet the needs of NI companies, equipping attendees with a solid base of technical knowledge required to move goods to and from Northern Ireland.

This course will examine the Letter of Credit process in detail and delegates will receive guidance on how to create a workable Letter of Credit.

Letters of Credit are an important tool for international trade as they provide security to transactions which are often complicated, involve a number of parties and have potential risks involved. It is vital for businesses to ensure they understand and comply with the requirements of a Letter of Credit.

This course will cover:

  • Methods of Payment
    – The Risk Ladder
    – Foreign Currency Transaction Mitigation
    – Advance Payment , Documentary Collections & Open Account
  • Incoterms 2020 & their interaction with L/Cs
  • How the Letter of Credit works – Management &
    Presentation
    – Advantages and Disadvantages
    – Types of L/Cs
    – Understanding the Rules (UCP600) and ISPB
    – Documentation
    – Insurance
  • Best Practice for L/Cs – Hints and Tips
  • Preparing Documentation

To book all 4 modules, or for more information, contact Marta.Gajewska@northernirelandchamber.com.

View the 2023 International training brochure.