Introduction to Documentary Credits

Course details

This course is designed to introduce participants to letters of credit and other documentary credits (clean and documentary collections) commonly used in international trade transactions (import/export).  Participants will learn what a letter of credit is, the types of letters of credit available, collections and other international documentary payment methods and the internationally agreed rules that govern their operation.  Participants will be made aware of what makes a letter of credit workable, trouble-free and provides the security of payment and receipt of goods for which credits are usually requested.    Participants will become familiar with the primary governing bodies that regulate the issuance and negotiation of documentary credits, the effect of the common shipping terms and conditions and the roles, responsibilities and risks assumed by all parties to documentary credits.

Major Topics(s):

• International Methods of Payment
• Documentary Collections
• Letters of Credit
• Roles, Responsibilities, and Risk
• Role of UCP600
• Examination, Presentation, and Acceptance of Documents
• Payment Issues
• Other Issues in International Trade