Documentary Letters of Credit and Documentary Collections
This course covers the procedures from receipt of an enquiry to presentation of documents.
Description
This course is an interactive course taking the delegates through the procedures from receipt
of an enquiry through to presentation of documents. It deals with the problems of how to avoid
unworkable credits, avoiding the necessity for amendments, and some basic errors. It looks at
the new code of conduct UCP600 and some of the areas where it differs from the previous
code UCP500. It also examines basic documentary collection methods using Bills of
Exchange. It concludes with a practical exercise in checking documents courtesy of one of
the major banks.
Contents
Aims and objectives of this workshop. The usual questions and concerns - as raised by
exporters. Exploding the 'myths'! The necessary information needed for dealing with L/C's what exporters need to get. What is an L/C and why are they needed - including a review of
the different types. A review of the other methods of payment - including documentary
collections. The L/C procedure - including a study of the functions of each party involved.
Advantages and disadvantages of dealing with L/C's. Whose job it is within the company to
deal with L/C's. What information is found within a L/C - a study of every significant item of
information and terminology exporters need to understand. The impact of Incoterms 2000
when dealing with L/C's. The L/C documents - a study of the significant documents and the
necessary contents of each. What happens at the bank after they receive your document. The
impact of UCP600 and ISBP 681 on L/C presentations. Why L/C's go wrong. What happens if
things do go wrong. A review of the aims and objectives of the programme. Post seminar
things-to-do list.
Key objectives
At the end of the day delegates will be able to decide upon the best terms of payment to
accept, how to achieve it to their best advantage, and be aware of the costs and cash flow
implications of different methods of payment.
Location
London Chamber of Commerce, 33 Queen Street, London EC4R 1AP
Who should attend
Essential for all involved in international trade including sales personnel, accounts staff and
people involved in order processing.
Organiser
Annabel Fogden, Head, World Trade, London Chamber of Commerce, 33 Queen Street,
London EC4R 1AP in conjunction with Tate Freight Forms, www.tatefreightforms.co.uk
Trainer: Stephen Townsley
Stephen has worked in international trade (both exports and imports) for the last 34 years
thus gaining a wide range of practical experience in manufacturing exports, importing and
freight forwarding.
As a JETS accredited tutor, he is currently contracted to deliver international trade
programmes for Birmingham, Coventry, Derby/Notts, North Staffordshire and Sheffield
Chambers of Commerce and has worked with these Chambers for at least five years. He is
an external tutor and examiner for Northampton University where he also helped develop the
UK’s first on-line Foundation Degree in International Trade.
Price
LCCI Premier Plus Member £414.00 inclusive of Vat
Local Member, Non-Member £472.00 inclusive of Vat
Included
Delegate pack includes course handouts and certificate. Lunch and refreshments.
Linked courses
Introduction to International Trade and Export Documentation Essentials.