International Business Procedures with L/C and without L/C

Introduction

Letter of Credit (L/C) also known as Documentary Credit is a widely used term to make payment secure in domestic and International Trade. Quite obviously, all payments in an International Trade are made through bank. Banks that are serving International Trade, understand the crucial role that they are required to play.

A key principle underlying L/C is that, banks deal only in documents and not in goods. It is impossible to be in International Trade without involving bank for all the services they provide. For result oriented and cost effective International trade, we need accurate and timely information and a sound knowledge of L/C for understanding of Export- Import Business.

Methodology

Exercise, PowerPoint Presentation, Question and answer session.

Contents of Training:

Introducing L/C

Types of L/C

L/C Procedure for Export & Import

Issuance of L/C

Payment under a L/C

Advantages and risks of L/C

Practical exercise on L/C

Documents for L/C opening

Documents for payment collection

L/C Check list points

L/C clauses

Confirmed L/C

Master L/C

Back to Back L/C

Transferable L/C

Revolving L/C

Stand by L/C

Red clause L/C

Add confirm L/C

Deferred payment L/C

At sight L/C

Import without opening L/C

INCOTERMS

Bank SWIFT Code

Financial Documents

Transport Documents

Commercial Documents

Government Documents

Beneficiary & Second Beneficiary

L/C Amendments

Cash in advance method

Advantages & Risks of Cash in advance payment

On consignment method

Advantages & Risks of consignment method

Draft or documentary Collection method

Documentary collection sight draft method

Documentary collection time draft method

Advantages & Risks of Draft or documentary Collection method

Open account method

Comparison of various methods of payments

Applicant

Beneficiary

L/C Issuing Bank

Advising Bank

Nominated Bank

Confirming Bank

Negotiating bank

Claiming Bank

Reimbursing Bank

Transferring Bank

Bank role for L/C procedure

Third party documents

Negotiable and Non-negotiable documents

How to prepare the documents

Procedure to examine the documents

Import without opening L/C

Multimodal/ Combined transport B/L

Marine B/L

Short- form B/L

Liner B/L

Charter party B/L

Shipping Procedure

PRC Certificate

Financial/Banking/Commercial/Marketing/Shipping/Customs Abbreviation & Meaning

SRO, GSP, SWIFT, UCP, UCPDC, FCL, LCL, UP, UD, IRC, ERC, LIM, LTR, PSI, UPAS, ISBP, FOB, CFR, CRF, TIN, CIF, H.S.CODE, AWB, ATI, AVAT, ASYCDA, COO, IRC, ERC, ICD, LIBOR, DEDO, ACU, BIN, CKD, CBU, B/L, LCAF, ETA, ETD, ICC, WCO, PPP, PPR, C&F, DAP, DAA, DAN, CD, RD, SD, IPO, EPO, CIB, BOI, SAPTA, APTA, IGM, EGM, TDS, MSDS, IMP, EXP

Questions & Answers Session
Handbook revision

Certificate Distribution

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