Who should attend
Letter of credit
This microlearning online training provides fundamental understanding on how to manage Letter of Credit effectively. In fact, regulatory Norms are ever-changing. Hence, there have been significant changes in banking norms in recent days. Moreover, it is important for international business and marketing professional to understand LC documentation procedure. Therefore, there is also significant chnage in press release as it can be managed more effectively within knowledge of this online course. In this course participants will learn about how to handle a letter of credit documentation process. Moreover, course will focus on LC discounting and other important parallel banking and payment related functions.
In conclusion, this course will provides hands on experience in the different types of letters of credit, the roles of each party using them and how they are used.
Core Area of Learning: Understanding on Export Contract, Letter of credit – how it works, LC process understanding, role of stakeholder in LC management, LC terms and conditions, Sight LC documentation, LC discounting, how to calculate LC discounting. Bank Guarantee, Difference between BG and LC, Incoterms 2020. Relating Incoterms and Letter of Credit.
Course Title: Fundamental Training on Letter of Credit Management
Course Code: RYD-085
Online micro learning course. So, course can be accessed online across anywhere 24×7.
Duration: 3 Days
Any body who wants to acquire detailed understanding on Public Relation and Corporate Communication.
Any body who wants to acquire competency regarding public relation, press release and corporate communication.
Who should attend this course?
- First of all, this course is most important and ideal for international business professionals handling exports.
- Secondly, LC management course provides hands on understanding for procurement team who handle import transactions.
- Finance professionals who are handling LC transactions.
- Banking professionals who are dealing in trade operations and dealing with corporate clients (to serve the clients professionally)
Certificate will be provided at the end of the successful completion of the course
Features of the course:
- Online 24×7 learning.
- Simulation based learning for effective understanding of the concept.
- Self Assessment modules.
- Online final examination and certification.
Few of the similar courses
Letter of credit
Both importing and exporting involve risks. For exporters, buyers could fail to pay for your goods, while importers could pay for something they never receive. Because of the distances involved, it may be difficult to resolve any disputes. One way to reduce risk is to use a letter of credit. This instrument offers a guarantee to the seller that they will be paid while assuring the buyer that no payment will be made until they receive the goods.
Definition of LC
A Letter of Credit (LC) is a document that guarantees the buyer’s payment to the sellers. It is bank who issues letter of credit. LC also, ensures timely and full payment to the seller. Hence, if the buyer is unable to make such a payment, the bank covers the full or the remaining amount on behalf of the buyer.
A letter of credit is issued against a pledge of securities or cash. Banks typically collect a fee, ie, a percentage of the size/amount of the letter of credit.