Introduction to Letters Of Credit

Description

Discover the fundamentals of Letters of Credit (LCs)

What is a Letter of Credit? How does a Letter of Credit work? Who are the involved parties? What are the most common LC types? Can they impact shipment organization and logistics?
Our Introduction to Letters of Credit online course provides the answers. Watch a short course extract here – https://youtu.be/PS8JH8sZ6kY.

Course objectives:
By the end of this course, you will:

■  Understand what Letters of Credit are and their role in global trade.
■  Know why LCs are used, who uses them, and how they operate.
■  Follow the flow of a Letter of Credit transaction.
■  Recognize the common types of LCs and their specific conditions.
■  Appreciate the impact of LCs on logistics and shipment organization.
■  Identify key considerations and potential issues when handling shipments under an LC.
■  Communicate effectively with customers, freight forwarders, warehouse staff, and other stakeholders about LCs.

Introduction to Letters of Credit training content:
In this introductory module, we will discuss the critical role of Letters of Credit (LC) in international trade. We will define and present Letters of Credit, discuss the reasons for using an LC and its benefits, present the main involved parties, and review a typical Letter of Credit process. We will then go over the main LC obligations, the most common conditions, and some specific types of Letters of Credit.

We will also talk about the impact Letters of Credit have on logistics and how they may affect shipment organization. This discussion will include a realistic shipment example and how its preparation, coordination, and related activities are impacted by an LC.

We will conclude the course with key takeaways and reminders. Interactive parts will assist with the learning, and a final exam will validate the acquired knowledge.

Perfect for logistics coordinators, trade professionals, and businesses involved in international trade, this course provides essential knowledge and practical insights on Letters of Credit.

Total run time: approx. 85 minutes.

Content summary:
This introductory module covers the critical aspects of Letters of Credit in international trade. You will learn about:

■  Definitions and benefits of Letters of Credit (LCs).The main parties involved and their roles.
■  The standard process flow of an LC transaction.
■  Key obligations and common conditions of LCs.
■  Different types of Letters of Credit.
■  Logistics considerations and how LCs affect shipment organization.
■  A practical example of managing a shipment under an LC.
■  Key points and reminders for handling LCs effectively.

Introduction to Letters of Credit (LC) course features and details

■  Total run time: approximately 85 minutes.
■  Audio run time: 45 minutes.
■  Full voice-over and interactive exercises included.
■  Final examination and certification upon completion.
■  12 months minimum access.
■  English Closed Captions available.

Further general information about our eLearnings can be found here, and some of our materials can be viewed on our logistics blog logisticselearning.com.