The Letter of Credit (LC) or the Documentary Credit (DC) is an instrument that guarantees payment. Its present form and the rules that govern it evolved from the international sale of goods. In recent decades the scope of LCs has changed from one that guarantees payment for a performance to one that guarantees payment for non-performance. There are many types of LCs.
The rules governing LCs – The Uniform Customs and Practice for Documentary Credits, ICC Publication No. 600 (UCP600), and
The International Standard Banking Practice for the Examination of Documents under Documentary Credits (ISBP) (Supplementing UCP600).
The Incoterms – which refer to the tasks, costs and risks involved in the delivery of goods from sellers to buyers. The latest version came into effect on 01st January 2020, and it is important that traders are well versed with the provisions.
- To equip participants with a comprehensive knowledge of LC Operations
- To impart the knowledge of relevant ICC Rules (UCP600, ISBP and Incoterms)
WHO SHOULD ATTEND
Designed for Entrepreneurs, Managers, and Trade, Marketing, Audit and other executives to whom a knowledge of: Bank Letter of Credit operations and ICC Rules relating to LCs and Shipping documents.
Interactive webinar and practical approach incorporating group Discussions and Exercises. Appendices related to LCs and ICC Rules are included.
Session 1 – Basics of Trade
Session 2 – Trade documents that are commonly required
Session 3 – Features and uses of LCs and the applicable ICC Rules
Session 4 – How to ‘open’ an LC
CERTIFICATE OF PARTICIPATION