Letter of Credit Master Class

Workshop dates:

Johannesburg: For future dates email customerservice@norcazacademy.co.za
Durbanville, Cape Town: For future dates email customerservice@norcazacademy.co.za
Durban North: For future dates email customerservice@norcazacademy.co.za

Course Fee: 

Single: R3,850.00 (R4,389.00 incl. VAT)
Group booking of 4 delegates or more: R3,500.00 (R3,990.00 incl. VAT) per delegate – T&Cs apply.

In-House Training sessions: available on request – send an e-mail with specifications to admin@norcazacademy.co.za

Introduction

This course can help reduce your accounts receivables.  Learn to fully comply with Letters of Credit requirements.  Get involved in the set-up process, learn the basic terminology and significance of various documents, and learn how to prevent and handle discrepancies.  Learn how to insure that you receive payment for your shipments, how to get paid faster and how to lower bank fees.

If your organization uses Letters of Credit, then your staff should understand Letters of Credit.

Who Should Attend?
  • Bank staff in International departments that require Letter of Credit training
  • Staff of companies involved in drawing documents to comply with requirements of Letters of Credit
  • Business Owners
  • This workshop will also be of benefit to those credit, sales, business associates and managers involved in international trade
  • It would also benefit those who are interested in learning more about risk mitigation or are planning on breaking into foreign markets
COURSE OUTLINE
Introduction / The Payment Decision
  • Decision Making and Payment Methods
  • Risk to International Trade Payment
  • Traditional Payment Methods
Letters of Credit as method of payment
  • Parties to the Letter of Credit
  • Payments under Letters of Credit
  • Costs and Benefits
  • Types of Letters of Credit
Letters of Credit Procedure
  • Quotation
  • Instructions for the Letters of Credit
  • Checklist for Letters of Credit
  • Document Preparation and Presentation
  • Discrepancies
Types of Letters of Credit
  • Revocable or Irrevocable
  • Confirmed and Unconfirmed
  • Restricted Letter of Credit
Special types of Letters of Credit
  • Variations you will see
  • Revolving – Standby – Transferable
  • Red clause, Green clause
  • Time drafts and Bankers Acceptance
Uniform Customs and Practice 600 & Commentary and ISBP
  • International Standard Banking Practices (ISBP)
  • Commentary on the UCC of the United States
  • NOTE:  Discussion on UCP 600
Export Transaction Review
  • Amendment to the Letter of Credit
  • Checklists
  • Documents Checklists (Commercial Invoice, Bill of Lading, Packing List, Insurance, etc.)
  • Letter of Transmittal to Bank
Import Letters of Credit
  • Parties Agree to Letter of Credit as Payment Method
  • Buyer Applies for Letter of Credit
  • Seller Receives and Accepts the Credit
  • Nominated Bank Review Documents
  • Issuing Bank Exchanges Documents for Payment
  • Importer Picks up Goods
Case study on an export Letter of Credit
Non-Traditional Payment Methods
       
 Messengers, Drivers & Courier Drivers
Single: R4,000.00 (R4,560.00 incl. VAT) Read More
Office Cleaning & Tea Assistants Programme
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Social Media

Single: R3,850.00 (R4,389.00 incl. VAT)

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 Guide to Imports & Exports

Single:  (3 days): R8,500.00 (R9,690.00 incl. VAT)

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