Letters of Credit

• A Letter of Credit, also known as LC or Documentary Credit, is acommonly used instrument for effecting payment between a buyer and a seller.
• It can be a vital part of mitigating a seller’s risk of payment in either international trade or domestic business.
• This program will allow the participant to gain a good understanding of the technical elements involved in the usage of a Letter of Credit and help avoid costly errors that could lead into nonpayment.
• This program is case-based, interesting and very practical.

• Payment Method & Shipping documents
• Types of LC’s
• The problems of letters of credits and how to overcome them
• Steps and considerations of issuing LC & how you can manage LC’s
• The impact of the new governmental laws on the business.

1- For Individuals

Participants will be able to:
1- Identify the different types of letter of credit.
2- Identify the procedures and steps of applying the letter of credits.
3- Identify the various parties involved in letters of credit.
4- Understand the problems of the letter of credit and how to overcome them.

2- For Business

• The letter of credit offers a guarantee to the sellers that they will pay, and the buyers can be sure that no payment will be made until they receive the goods as it is a vital part of mitigating the risk in import and export.

• Heads of Import and Export
• Logistics Department