LC-Letter of Credit & Inco - Terms

What is Letter of Credit & Inco- Terms(LC)?

Learn fundamental knowledge of the International Trade cycle and plan for the exporting and importing of goods. The various documentary requirements to do import and export. Factors influencing the costs and the risks involved. Understand the different role players. Methods of payment and the preventive measures one can take. An overview of containers and types of shipping equipment.

Who Should Enrol?

• Exporters, Importers and Trade Finance professionals/ Banking professionals, entrepreneurs.
• Anyone who would like to have a quick overview of International Trade and Finance.
• Anyone who interested to build up their career in this line

Course Benefits or Course Outcome

• The students will be equipped with the skill set to understand International Trade Finance.
• The mentioning of this course completion in your Resume assures your present and Prospective Employers that you have a good Knowledge of International Trade and import-export management. • You develop a global perspective and demonstrate high attention to detail while handling the complex issues related to Export-Import.
• Very comprehensive knowledge on banking trade relatives, letter of credit and INCO-terms

Course Structure

• Introduction of Various Payment terms used in Trade
• Introduction to Inco-Terms
• Uniform Customs & Practice for Documentary Credits (UCP 600
• Understanding of Bank & Non-Banking payments
• Roles of Banks in Trade payments
• Understanding Tenor related to Payments
• Overview of Letter of Credit (L/C)
• Role of Banks in L/C
• Letters of Credit
• How They Work
• Types of L/C
• The Technical Variations
• Opening an L/C
• Essential Requirements by Banks
• Key Terms and Conditions
• Reviewing Export L/C and Documents Presented under an Export L/C
• Back to Back Letter of Credit (Merchant Trading transactions)
• Avoiding & Resolving Discrepancies under an Export L/C
• Understanding Shipping Terms concerning L/C
• Documentation in Letter of credits
• Working out the L/C application process with the bank
• Problems of discrepancies in L/C
• Back-to-Back L/C
• Pre & Post shipment payment terms
• Letter of Credit flows
• Pre-shipment and Post Shipment finance
• Understanding Incoterms
• Negotiation process
• Standby L/C