Letter of Credit

Course Code: CL23

Course Objective

  • Apply the technical aspects of shipping infectious substances by air
  • Review the current Infectious Substances Shipping Guidelines based on the latest IATA Dangerous Goods Regulations Manual
  • Use our step-by step workbook with the current Infectious Substances Shipping Guidelines publication
  • Promote safe and efficient handling practices in the workplace
  • Facilitate shipments by ensuring compliance


Target Audience

  • Shipping personnel, freight forwarder, banker, trader, importer/exporter, businessman, and those keen in upgrading their knowledge in international trade.


Course Outline

Day 1 – Introduction of Letter of Credit

  • What is a ‘Letter of Credit’?
  • What are some common payment terms used in international trade?
  • Why are ‘Letters of Credit’ used?
  • How are ‘Letters of Credit’ issued?
  • How does a ‘Letter of Credit’ work with commercial transaction relating to Domestic and International trade?
  • Who are the different parties to the ‘Letter of Credit’?


Day 2. Incoterms: Its Rules and Applications

  • Ncoterms 2000
  • Meaning of EXW, FCA, FOB, CFR, and CIF
  • How to use the terms to your advantage
  • Responsibilities of buyer and seller
  • Meaning of title and transfer of risk
  • Its customs of trade

Day 3. The Fundamental of International Trade Financing

  • Finance for exporter & importer
  • Factors for financing
  • Types of payments
  • Export Credit Insurance
  • International Export factoring
  • Trust Receipt and Discounting Bill

Day  4. The Elements of Letter of Credit

  • Operation of Letter of Credit
  • Rules cpncerning the application of L/C
  • Methods of overcoming discrepancies
  • Effective methods of checking L/C
  • Understanding UCP 600
  • How to do financing in Back-to-back LC

Day  5. Understanding International Fraud and Prevention

  • Understanding of LC fraud
  • Characteristics of LC fraud
  • Methods of LC fraud
  • Malpractices and weakness in shipping practices
  • How to prevent fraud

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Date & Location

Date : 02 October 2022

Duration : 5 days

Place : London

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Date : 02 January 2022

Duration : 5 days

Place : Kuala Lumpur

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Date : 03 July 2022

Duration : 5 days

Place : Alexandria

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