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Updated in [July 27th, 2023]
This online course provides learners with a comprehensive understanding of International Letter of Credit (LC), International Trade Finance and its governing rules, the Uniform Customs and Practice for Documentary Credits UCP 500 & UCP 600. Through this course, learners will gain an understanding of the different types of LCs, the parties involved in the LC transaction, and the role of the UCP rules in LC transactions. Additionally, learners will gain practical knowledge of the LC process, including how to draft, negotiate, and document an LC, as well as how to handle discrepancies that may arise in the LC documents. Upon completion of this course, learners will have the essential knowledge and skills needed to understand and work with LCs effectively.
Course Syllabus
Introduction
Receiving International Payments
How documentary letter of credit works?
What factors govern the documentary letter of credit? And Basic Features of UCP
Several Types of Documentary Letter of Credits
Draft documentary Letter of Credit Opening Instructions
Common Discrepancies in the letter of credit and presentations
Impact of local regulations on the documentary credit operations
International Standard banking Practices, 2007
Documentary Letter of Credit Frauds
Different L/C fees and Charges
Uniform Customs and Practices 600 revision - Overview And Analysis
Blockchain Based Letter of Credit
Closing Case Study
Final Thoughts
