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17 Nov 2020

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Understanding Documentary Letters of Credit



Event Time: 09:00 - 13:00

Event Theme: International Trade

Price: Member Rate: £200.00 +VAT | Non Member Rate: £250.00 +VAT |

Event Location:


Upskill your team's knowledge with Subsidised , fully Accredited Training from Surrey Chambers of Commerce.

Documentary Letters of Credit are a preferred method of payment in international trade, and commonly used worldwide. Governed by ICC UCP600 Rules, a Letter of Credit is the safest way of ensuring exporters get paid and importers receive their goods on time.
 They are often regarded as expensive to use and complicated in nature and as such are easily disregarded in favour of other simpler payment alternatives, however if fully understood, Letters of Credit can offer increased protection against non-payment especially when trading with new customers

This is organised in a virtual package comprising of a live webinar.

Delegates: open to anyone who deals with International Trade Finance and/or Letters of Credit
Grant funding: Eligible for £50 million HMRC training funding (www.customsintermediarygrant.co.uk)   
Course pre-requisites: none. 
Course content is based on the following topics:

  • Definition and purpose of a Documentary Letter of Credit
  • Why should consider using Letters of Credit as a payment method
  • What a Letter of Credit looks like
  • Understanding of terminology within a Letters of Credit
  • Process flow of a Letter of Credit
  • Types of documents used
  • Roles pf Importer / Exporter / Banks
  • Key aspects within L/C that need focus
  • Common document discrepancies and how to avoid them
  • The different types of Letters of Credit
  • What a confirmed letter of credit means
  • Using L/Cs to obtain finance
  • Ongoing help and support from Surrey Chambers

Assessment: Optional formal exam can be taken to work towards a BCC 'Foundation in International Trade' award

Individual Course (price per delegate)

Accredited Chamber members £200 + VAT | Non-members £250 + VAT

Training Package 1 (price per delegate)

ALL 9 Training Courses
Accredited Chamber members £1350 + VAT | Non-members £1800 + VAT

Training Package 2 (price per delegate)

 4 of the 9 available Training Courses
Accredited Chamber members £700 + VAT | Non-members £900 + VAT

If you wish to book either of the Training Packages, please download and complete the Booking form here and return to export@surrey-chambers.co.uk 

About the Trainer

The course is being delivered byJon Silcock, an experienced practitioner of Letters of Credit, after having worked for a high street bank within their International Trade Division for over 25 years He has held many positions within its operational departments, including being responsible for leading a team checking documentation and assisting the banks customers in getting paid. He has also worked within its Foreign Exchange dealing and Trade Finance Solutions teams, advising customers how best to mitigate the risks encountered when trading overseas. Upon leaving the bank, Jon set up JDS International Trade Consultants, to continue offering his assistance, knowledge and expertise in helping companies. He is an Associate member of the Institute of Export having gained its CITA qualification enabling him to offer advice on International Trade.



09:00 - 13:00 (GMT)  by Surrey Chambers

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