Description
ITS-03-FIT-003 Documentary Credits Fundamentals
A practical course specially designed to provide participants with the
KNOWLEDGE and SKILLS to: - Examine and understand the terms and
conditions in a Letter of Credit (LC) - Avoid and resolve discrepancies
when handling documents called for in a LC - Handle special LC -
Understand specialised areas of LC - Understand the uses, mechanics and
risks of LC
For Whom
Anyone who needs to know about Letters of Credit.
Having trouble accessing the course? Email us at support@ebsi.ie or contact us on Skype at ebsikiltimagh and we will help you out!
Objectives
To understand how a documentary credit works and the obligations of the parties involved.
Detailed Topic Listing as follows:
LU FIT 003 Documentary Credits Fundamentals
1 - THE DOCUMENTARY CREDIT
1.1 Why Letters of Credit are Used
1.2 Guarantees for the Importer and the Exporter
1.3 Documentary Credit Rules
1.4 Example of SWIFT
1.5 The Parties to a Documentary Credit
1.6 Documentary Credit Cycle
1.7 Comment on Documentary Credits
1.8 Graphical Summary
1.9 Documentary Credit and the Importer
1.10 Documentary Credit and the Exporter
1.11 Suggestions for the Exporter
1.12 Opinion
2. OPENING A LETTER OF CREDIT
2.1 Opening a Letter of Credit
2.2 Letter of Credit and Contract of Sale
2.3 Banks and the Goods
2.4 Non-Compliance with the Terms of the Contract
2.5 Bank Charges
3. CONTENTS OF DOCUMENTARY CREDIT
3.1 Unconfirmed Irrevocable Letter of Credit
3.2 Tolerance
3.3 Partial Shipments
3.4 Transhipment
3.5 Type of Letter of Credit
3.6 Form of Advice of a Letter of Credit
3.7 Date and Place of Expiry
3.8 Date of Issue of the Credit
3.9 Description of the Goods
3.10 Advice and Confirmation of the Letter of Credit
3.11 Amendments
3.12 Details on Transport
4. IMPORT LETTERS OF CREDIT
4.1 Items to check with the importer
4.2 Completing Documentary Credit (DC) Application Form
4.3 Internal Records
5. TRANSMISSION OF DOCUMENTARY CREDIT
5.1 Charges for Documentary Credits
Further Reading
1 – Sample LC Application form
2 – Dissertation on Using UCP600
3 – Sample SWIFT Template for LC
4 – Summary Guide to the UCP600 Rules
5 – The Power of Argument
6 – The Role of Documentary Credits in the International Sales Contract
Forum Assignment
End of Unit
Certificate
By completing/passing this course, you will attain the certificate eBSI International Trade Short Course Certificate
Learning Credits
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