(Click Category to List Courses)
5 - FNB - Finance and Banking
FNB 205 - Letters of Guarantees/Credits
| Code | Start Date | Duration | Venue | |
|---|---|---|---|---|
| FNB 205 | 06 May 2024 | 5 Days | Istanbul | Registration Form Link |
| FNB 205 | 03 June 2024 | 5 Days | Istanbul | Registration Form Link |
| FNB 205 | 01 July 2024 | 5 Days | Istanbul | Registration Form Link |
| FNB 205 | 26 August 2024 | 5 Days | Istanbul | Registration Form Link |
| FNB 205 | 23 September 2024 | 5 Days | Istanbul | Registration Form Link |
| FNB 205 | 21 October 2024 | 5 Days | Istanbul | Registration Form Link |
| FNB 205 | 18 November 2024 | 5 Days | Istanbul | Registration Form Link |
| FNB 205 | 16 December 2024 | 5 Days | Istanbul | Registration Form Link |
Please contact us for fees
Course Description
One of the ways taken as a precaution and risk managagment is the letter of guarantee/credit. They are used for example in trade financing when suppliers, or vendors, are purchasing and selling goods to and from overseas customers with whom they don't have established business relationships. The instruments are designed to reduce the risk taken by each party. This course discuss Finance, Credit Management, International Shipping, Customer Services, Order and Account Management personnel. The course provides participants with practical knowledge of Documentation required for Letters of Credit which they will be able to apply in their business to simplify the processes.
Course Objectives
- Being able to negotiate the most favourable Letter of Credit terms for your business
- Understanding how to select the most suitable banks to handle your Letter of Credit documents
- Accurately factoring the costs into your selling price
- Minimising the need for costly amendments
- Learning how to prepare Letter of Credit documents which comply with the most challenging of terms
Who Should Attend?
- Importers and exporters
- Office based sales staff, purchasing staff, and shipping
- Accounts and finance staff
- Customer services
- Freight forwarders
Course Details/Schedule
Day 1
- Methods of payment - the 'Risk Ladder'
- Documentary collections & bills of exchange
- What is a letter of guarantees/credits?
- How letters of guarantees/credits work
Day 2
- Understanding the jargon - L/C terms and expressions
- How to request a workable letter of guarantees/credits from your customer
- Confirmed letters of guarantees/credits - why use them and what are the cost implications?
Day 3
- Using L/Cs to decrease DSO (days sales outstanding)
- Letter of guarantees/credits bank charges - calculating and minimising costs
- How to deal with the banks - handy hints and tips
- Common problems and discrepancies... and how to avoid them
Day 4
- Understanding the rules
- Techniques for preparing and presenting documents to the bank
- Checking the documents
- What the bank is looking for?
Day 5
- Discrepancies - what to do if things go wrong
- Course review
- Letter of guarantees/credits examples and exercises
