Introduction to Letters of Credit 2011
29 November, 2011
Palm Beach FL , USA
A letter of credit is one method of payment used in international trade transactions. The Uniform Customs and Practices (UCP 600) are the current internationally recognized set of rules created by the International Chamber of Commerce (ICC) which govern the use of letters of credit.
The benefit to using a letter of credit is that it provides a conditional guarantee of payment from the importer (applicant) to the exporter (beneficiary) if the terms and conditions of the documentary credit are complied with.
Areas Covered in the Seminar:
- Letter of Credit (L/C) process.
- Terminology in L/C.
- L/C instructions and preparation.
- Review of a L/C.
- Checklist for a L/C.
- Costs for importer and exporter.
- Types of discrepancies.
- Documents in a L/C.
- Overview of UCP 600.
The benefit to using a letter of credit is that it provides a conditional guarantee of payment from the importer (applicant) to the exporter (beneficiary) if the terms and conditions of the documentary credit are complied with.
Areas Covered in the Seminar:
- Letter of Credit (L/C) process.
- Terminology in L/C.
- L/C instructions and preparation.
- Review of a L/C.
- Checklist for a L/C.
- Costs for importer and exporter.
- Types of discrepancies.
- Documents in a L/C.
- Overview of UCP 600.
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Introduction to Letters of Credit 29 November, 2011
