Importing and exporting involves risks. Exporters run the risk of buyers failing to pay for goods, while importers may risk paying but never receiving anything. Because of the distances involved, it may be difficult to resolve any disputes.
One way of reducing the risks is to use a letter of credit - sometime known as ‘documentary credit’. This can offer a guarantee to the seller that they will be paid, and the buyer can be sure that no payment will be made until they receive the goods.
Letters of credit can provide a tremendous challenge to exporters if they do not meet the letter of credit terms and conditions. Non-compliance could result in bad debts, frustrated customers, extra administration and other costs.
However, this can all be solved by learning how to provide accurate documentation. In order to be fully compliant, exporters need to have adequate training, as well as experience with both shipping and documentation methods and practice. The exporter will then be able to receive the benefits of prompt payments from overseas.
The beyond starter level course is aimed at developing skills for exporters who already have some experience. The documentary letters of credit course aims to teach delegates the processing of payments procedure. Delegates will also learn how the UCP600/ISBP rules can assist in the process and how to avoid extra bank charges by becoming L/C compliant. In addition they will also receive specific instruction on necessary documentation, banking procedures and best practice methods.
This course can also benefit a buyer who has opened a Letter of Credit for international purchase.
This course contributes to 1 module of the Foundation Award - Documentary letters of credit.
Bookings policy - please note:
All Dorset Chamber events are on a pre-payment basis. A VAT Receipt will be issued upon receipt of payment. Places at events are confirmed at time of booking.
Any places at an event must be cancelled a minimum of 20 working days before the event in order to receive a full refund. Places cancelled after this, or no shows on the day, will not be refunded.