How to Buy and Sell Using a Letter of Credit in International Trade – Full Syllabus

Our online Letter of Credit course is suitable for beginners and practitioners alike.

Understand how to request a letter of credit or the documentation required on presentation to be paid on a letter of credit. This course teaches you how to avoid being one of the 70% who go unpaid on first presentation of their Letter of Credit to the bank.

Taught with a series of pre-recorded videos, study in your own time, at your own pace, with no start or end date.

Subtitles available in English

Course Cost: £399

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: 21m 27s)

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

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