Our on line Letter of Credit course is suitable for beginners and practitioners alike. Taught with a series of pre-recorded videos, study in your own time, at your own pace, with no start or end date. One-to-one phone support is included.
Module 1: (Video Length: 43m 8s)
Definition of a Letter of Credit
Understanding the parties involved in a Letter of Credit
- Opener
- Beneficiary
- Issuing Bank
- Advising Bank
- Confirming Bank
Examples of Letters of Credit
- Irrevocable
- Confirmed
- Transferable
Module 2: (Video Length: 47m 44s)
Instructions on how to open a workable Letter of Credit
Module 3: (Video Length: 32m 19s)
The role of UCP 600 (2007 revision) and why it’s important
Close examination of the typical documents required for a Letter of Credit In conjunction with UCP 600
- Invoice
- Bill of Lading
- Insurance Certificate
- Packing Note
Module 4: (Video Length: 15m 15s)
Definition of a Bill of Exchange (draft)
How to prepare Bills of Exchange
- Sole
- Set
- Sight
- Term
Module 5: (Video Length: 41m 12s)
The role of third parties in a letter of credit (freight forwarder, chamber of commerce)
Checklist before presenting documents for payment
Vertically and horizontally examination of documents
How to handle a non-compliant presentation
Document Library:
- Examples of Letters of Credit (In conventional and SWIFT format)
- Examples of Bills of Exchange
- Sample: Template Bill of Exchange
- Sample: How to request a workable letter of credit
- Bill of Lading
- Commercial Invoice
- Insurance Certificate
Flow Charts:
- How a Letter of Credit is established
- How a Transferable Letter of credit works
- Vertical and horizontal examination of documents prior to presentation for payment
