Letter of Credit Training Sharjah

A Letter of Credit is a written document or undertaking, by a bank, at the request of its customer, the importer (applicant/buyer), whereby the bank promises to pay the exporter (beneficiary/ seller) for the goods or services, provided that the exporter presents all the documents called for, exactly as stipulated in the Letter of Credit, and meets all the other terms and conditions applied in the Letter of Credit.

Course Contents:-
  • What is Letter of Credit?
  • Types of Letter of Credit
    • Revocable and Irrevocable
    • Confirmed or Unconfirmed
    • Sight Credit
    • Transferrable Letter of Credit
    • Standby Letter of Credit ( used as a security for trade transactions)

  • Importance of Letter of Credit
  • Parties to a Letter of Credit
  • A Typical Letter of Credit Transaction
  • Checklist for Export Letters of Credit
  • Letter of Credit : Term and Conditions
  • Export Document Preparation
  • Insurance Policy
  • The Certificate of Origin 0r Consular Invoice
  • Documents that may Accompany the Letter of Credit
  • Common Letter of Credit Document Discrepancies

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