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Beacon FinTrain

Provides an array of professional business and financial training services that stem from improving a corporate's treasury workflow —all the way to efficient, finance training programs.

Course Overview

Documentary credits are seen as a guaranteed way for sellers to obtain the price of the goods within the credit from the banks and not the buyer and ensure the receipt of the value of the goods in exchange for the submission of the documents consistent with its terms when the banks issue obligations to pay if the documents are received within the agreed terms.

Learning Outcome

Explain what a documentary credit is and its main features

Identify pre-issuance considerations

Understand Letters of credit cycle

Identify roles and responsibilities of the issuing bank, confirming bank, advising bank, and nominated bank

Understand the scope of application of Uniform Customs and Practices (UCP600)

Understand the concept of honor and negotiation

Course Outline

The letter of credit definition and its main features and parties. The responsibilities and risks of the parties involved.

Different types of approvals needed for LC issuance. Credit approval. Compliance approvals. Financial institutions approvals. CBE approval. Letters of Credit’s SWIFT types format and necessary fields.

LC issuance, amendment, advising, confirmation, and settlement. Presentation and examination of documents.

Different types of approvals needed for LC issuance. Credit approval. Compliance approvals. Financial institutions approvals. CBE approval. Letters of Credit’s SWIFT types format and necessary fields.

Roles and responsibilities of the Issuing bank, article 7. Roles and responsibilities of the Confirming bank, article 8. Roles and responsibilities of the Advising bank, article 9. Roles and responsibilities of the Nominated bank, article 12. Roles and responsibilities of the Reimbursing bank, article 13.

Standards of examination of documents. Complying presentation under documentary credit. Differentiation between original and copies. Examination of shipping documents. Invoice. Transport documents. Insurance documents. Refusal of documents, article 16.

Who Should Attend

Credit Analysts=Compliance Officers=Trade Finance Managers=Relationship Managers=Trade Operations Managers=Trade Finance Officers=Documentary Credit Specialists=Operations Analysts

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