Import and Export through Letter of Credit
This course explores the basics of import and export through letter of credit. It provides in-depth knowledge of the letter of credit process, rules and regulations, and the common mistakes to be avoided while preparing the documents. It also covers the roles and responsibilities of all the parties involved, including the buyer, seller, bank, and shipping and receiving agents.
- Understanding the role of letter of credit in international trade
- Learning the steps involved in the letter of credit process
- Gaining knowledge of the rules and regulations governing letter of credit
- Avoiding common mistakes while preparing letter of credit documents
- Learning about the roles and responsibilities of parties involved in the process
What you will learn:
- Understanding the basics of letter of credit
This module provides an overview of letter of credit and its importance in international trade.
- Exploring the letter of credit process
This module covers the step-by-step process of letter of credit, including the documentation required and the role of various parties.
- Knowing the rules and regulations
This module provides an in-depth understanding of the rules and regulations governing letter of credit, including the Uniform Customs and Practice for Documentary Credits (UCPDC).
- Avoiding common mistakes
This module covers the common mistakes to be avoided while preparing the letter of credit documents, such as incorrect description of goods, incorrect names and addresses of parties involved, and incorrect calculation of fees and charges.
- Understanding the roles and responsibilities of parties involved
This module provides an insight into the roles and responsibilities of all the parties involved in the letter of credit process, including the buyer, seller, bank, and shipping and receiving agents.
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