Course details
Course OverviewDefinition & Types of LCs
- Definition - Issuance - amendment - extension - utilization
- Types & Risks of letter of credit - Irrevocable, Confirmed, Transferable, Revolving, Red Clause, Back to Back
- Contents of LC
- Why UCP is must for LCs
- General provisions of UCP 600
Review of terms & conditions
- Terms of LC in light of UCP600 (term vs articles)
- Ambiguous terms definition & interpretations
- Understanding difference between Payment / Negotiation & Accpetance/Defferred Payment
- Partial Shipments
- Minimal requirements for 45A Goods Description
- Transport document - Sea / Air / Road / Rail
- How to evaluate your transport documents - 11 points theory
- Who should issue transport document
- Why confirmation of dispatch is a must
- SHIPPED ON BOARD vs CLEAN ON BOARD
- Commercial Invoice
- Insurance Documents in light of UCP 600
- Who can issue insurance
- In whose name insurance should be issued
- Date of insurance / cover percentage / risks ;
- Other documents as per UCP 600
Presentation
- Importance of Period of Presentation / how to benefit from
- Period Of Presentation Presenter, presentation, original doc/copies /signature
- Time frame for banks & their obligation
Discrepancies
- Understanding Discrepancy(ies)
- Inconsistency - Discrepant documents - Waiver - Notice - Acceptance
- Direct & Indirect costs & impact of discrepancy(ies)
- How to deal & control discrepancy(ies)
Complying Presentation
- Principles of documentary verification
- Checking documents according to UCP 600 & ISBP
- When banks are precluded from claiming any discrepancy in documents
Open debate on problems faced by participants in documentary credits and their solution
Answer & question will be throughout the training session
Updated on 01 December, 2020
Eligibility / Requirements
Individuals and professionals who are in the logistic industry, import and export industry or any interested ;
Job roles this course is suitable for:
LOGISTIC ASSITANT/OFFICER , Transport Logistics Expert , Cargo Handling SupervisorCourse Location
About Optimizer Middle East
Introduction:
Optimizer Middle East is a professional organization located in Business village, Deira, Dubai, UAE and active in the MENA countries. The core business of the organization encompass services and consultancies in accounting management systems based on international standards and professional training including technical, management and accounting with the objective of developing personnel skills.
We have executed various professional development projects the Gulf region and North Africa till date targeting to be a leader for Training and development in the area.
Vision:
We Optimizer Middle East shall become the professional umbrella for all the training and development professionals in MENA regions.
Mission:
Develop, organize, sustain through providing professional services, consultancies and training with the objective of disseminating standardized and developed professional practices to individuals and private as well as governmental organizations in MENA region.
Our Objectives:
- Provision of knowledge as skills
- Empowering individuals and organizations in MENA region with the latest professional advanced tools
- Introduction of conceptual practices in the organizational activities
- Qualifying professional experts in the government and private sector
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