Export Import Business with L/C

Introduction

A letter of credit (L/C) is one of many methods to provide protection to both parties involved in international transactions. L/C is a crucial part of the recipe when it comes to trade done outside borders. These documents have many useful features that make imports and exports easier and more reliable. The letter of credit (L/C) is grounded on international trade practices and regulations. It establishes what the parties are expected to do, what documents are required for the transactions, and the terms both exporter and importer agree beforehand. A letter of credit works as a guarantee that the transaction will be done as agreed.

Methodology

Exercise, PowerPoint Presentation, Question and answer session.

Contents of Training:

Various types of L/C

UCPDC-600

Irrevocable L/C

Payment methods without L/C

UPAS L/C

Back to Back L/C

Transferable L/C

Red clause & Green clause L/C

Add confirm L/C

Stand by L/C

Revolving L/C

SWIFT Code

Parties involve in the L/C

L/C works process

L/C amendment

Import without L/C

Advantages of L/C to the importers

Advantages of L/C to the exporters

Disadvantages of L/C to the importers

Disadvantages of L/C to the exporters

Risk of L/C

H.S Code

Confirming Bank

Negotiating Bank

Reimbursing Bank

Advising Bank

Issuing Bank

Documents for L/C opening

L/C Clauses

Practical exercise on L/C

Proforma Invoice (P/I)

Sales Contract

Shipping documents

Third party documents

Nostro & Vostro A/C

Offshore Banking

Negotiable & Non-negotiable documents

Insurance cover note & policy

D/P & D/A Payment

Bill of Entry/ Export

INCOTERMS- 2010

Local L/C

Lien Bank

Credit report

Sight Bill of Exchange

Usance Bill of Exchange

Discounting of bills

Guideline for L/C opening

IMP & EXP Form

Lecture Sheet & Handout Revision

Question & Answers session

Certificate Distribution

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