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International Letter of Credit & UCP: Advanced Certification

Learn how LC cycle works for exports and imports. All about UCP 600 & 500 and ISBP 2007. Types of LCs / Discrepancies.

4.18 (28 reviews)

Students

7 hours

Content

Jun 2021

Last Update
Regular Price

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What you will learn

Different methods of receiving international payments in exports.

Role of international banks in international trade financing and documentary credit

Typical exports and documentary credit cycle.

Types of International Letter of credit

International Letter of Credit Opening Instructions

Precaution taken by beneficiary before accepting letter of credit.

Common discrepancies in LC documentation presentations.

Role of UCP 500/600

Role of ISBP 2007

International Letter of Credit Frauds and prevention

Overview on UCP 600 compared with UCP 500

Common provision of UCP 600

New additions to UCP 600

Emerging role of new revolutionary Blockchain based L/Cs

All about INCOTERMS®2020


Description

INTERNATIONAL LETTER OF CREDIT AND UCP | ADVANCED CERTIFICATION COURSE

'International letter of credit and UCP mastery advanced certification course' is something you are looking to master the art of getting international payments through documentary international letter of credit? Do you want to ensure that you do not make mistakes in accepting overseas LCs? Do you want to know all about UCP 500/600, ISBP and different methods of documentary credit and when to use these instruments? Friends, this is the perfect course for you. And, this VJ Exports Mastery Series Course provides complete understanding on the international trade financing instruments especially focusing on Documentary International Letter of Credit.

This letter of credit learning course is a step by step guide to make you master the art of handling documentary letter of credit which are issued by banks from around the world. Friends, a career in documentary letter of credit handling is a highly paying job whether you are working for global companies, international banks or export houses. Needless to say, half knowledge is recipe for disaster sooner or later. Therefore, do not leave any stone un-turned in your complete understanding of LCs, UCP 500/600, ISP98, ISBP 2007.

WHAT IS COVERED IN THIS COURSE?

This course on international letter of credit covers topics like

  • Different methods of receiving international payments in exports.

  • Role of international banks in international trade financing and documentary credit.

  • Typical exports and documentary credit cycle.

  • Types of International Letter of credit

  • International Letter of Credit Opening Instructions

  • Precaution taken by beneficiary before accepting letter of credit.

  • Common discrepancies in LC documentation presentations.

  • Role of UCP 500/600

  • Role of ISBP 2007

  • SWIFT transactions

  • International Letter of Credit Frauds and prevention

  • Overview on UCP 600 compared with UCP 500

  • Common provision of UCP 600

  • New additions to UCP 600

  • Emerging role of revolutionary Blockchain based L/Cs

  • Real life examples of Blockchain based L/Cs

  • All about INCOTERMS®2020

What can you expect the outcome of learning this course?

After completing this course, you will have thorough knowledge about Documentary International Letter of Credit, its background, nature and types. Subsequently, you will be able to work with top international companies in their commercial department getting good salaries. Alternatively, you can also start your exports or imports business by receiving or sending international payments for goods / services sold or bought. And friends, this course is the only one of its kinds on UDEMY. Because, this course is based on the years of experience and research work carried out by Dr. Vijesh Jain, the author and instructor of this course.

About the instructor

Dr. Vijesh Jain, instructor of this course on documentary letter of credit, is a seasoned professional in all the areas related to global business, exports, imports, international logistics and supply chain. He has served with many international organization working in several countries and dealt with more than 28 countries for exports operations. He is an IIFT, BITS, BIMTECH and Harvard University Alumnus. I addition, he has a PhD in international business from University of Mysore. An award winning professor and exports professional, he has been actively working to share his knowledge of more than 30 years in the international business management. For this, he regularly create VJ Exports Mastery Series of Course on UDEMY.


Screenshots

International Letter of Credit & UCP: Advanced Certification
International Letter of Credit & UCP: Advanced Certification
International Letter of Credit & UCP: Advanced Certification
International Letter of Credit & UCP: Advanced Certification

Content

Introduction

Course Introduction

Introduction to the course

Why letter of credit?

What is Documentary Letter of Credit and its rationale?

Typical exports framework

Understanding Typical Exports Transaction Cycle

Receiving International Payments

International Trade Financing

Introduction to international trade financing

International payments methods explained

Primary methods of receiving international payments

Level of risks associated with the different international payment methods

A typical international payment risk ladder explained

Quiz 1

How documentary letter of credit works?

Exporter's dilemma

International trade financing instrument of choice for exporters

Understanding basic traditional LC cycle

Basic L/C Cycle

Traditional L/C cycle explained in detail

Typical L/C Cycle Explained

Role of several intermediaries in the LC operations explained

Role of various parties in typical documentary L/C cycle

Quiz 2

What factors governs the documentary letter of credit? And Basic Features of UCP

A diverse world and the challenges of dealing with it

Challenges of world of differences

The solution

What is UCP?

How does ICC document defines the players involved in its scheme of things

Parties to the international transactions as per UCP

Role of letter of credit as explained in UCP

Rationale of the L/C as per UCP rules

Summary of the Doc Credit Features as per UCP

Defining scope of L/Cs

What an L/C can do and what it can not?

So what is the basis of documentary letter of credit?

Basic tenet of Documentary L/C as per UCP

Quiz 3

Several Types of Documentary Letter of Credits

Types of Documentary Credits

Why several different types of doc letter of credits are there?

Several Different Types of Documentary L/Cs

Quiz 4

Documentary Letter of Credit Opening Instructions

Seller's role in initiating the L/C process

Why seller's role in framing the first L/C opening instructions?

Seller's L/C opening instructions example

Quiz 5

Common Discrepancies in the letter of credit and presentations

L/C flaws discussed

Common Discrepancies in the doc letter of credit received by the seller

Documentary discrepancies explained

Common discrepancies in the documents presented by the seller against the L/C

Quiz 6

Impact of local regulations on the documentary credit operations

Impact of local central bank's FX control related policies

Local Exchange Regulations Impacting L/C operations - Example of India

Local FX association's role described

Local FX dealers association rules and its impact on international L/Cs

Quiz 7

International Standard banking Practices, 2007

ISBP - the ground zero guiding document

ISBP Explained

Quiz 8

Documentary Letter of Credit Frauds

L/C Frauds explained

Nature of international L/C frauds

Prevention of international documentary letter of credit frauds

Quiz 9

Different L/C fees and Charges

L/C costs explained

How L/C fee and costs are split between the seller and the buyer

Typical L/C costs generally paid by the seller

Buyer's Typical costs related to L/C

Quiz 10

Uniform Customs and Practices 600 revision - Overview

UCP overviewed

Overview of UCP 600 Revision

Overview of the history and process adopted for the UCP 600 review

Quiz 11

Comparing UCP 600 with UCP 500

Comparison of UCP 600 with 500 explained in short

Overview of the main revisions in UCP 600 over earlier UCP 500

Case Study of Malhotra Exports: Role of National Courts and Local Interpretation

Comparison with UCP 500

Quiz 12

UCP 600 Articles

UCP Articles Highlighted

Overview of UCP 600 revised articles

UCP 600 Article 1 - Highlights

UCP 600 Article 2 - Highlights

UCP 600 Article 3 - Highlights

UCP 600 Article 4 - Highlights

UCP 600 Article 5 - Highlights

UCP 600 Article 6 - Highlights

UCP 600 Article 9 - Highlights

UCP 600 Article 10 - Highlights

UCP 600 Article 12 - Highlights

UCP 600 Article 14 - Highlights

UCP 600 Article 16 - Highlights

UCP 600 Article 17 - Highlights

UCP 600 Article 18 - Highlights

UCP 600 Transport Articles 19 to 25 - Overview

Quiz 13

Blockchain Based Letter of Credit

Emerging blockchain technology and documentary letter of credit- time to change

Overview of the new technology and its role

Understanding what is Blockchain?

Blockchain based letter of credit eco system

What is the role and advantages of Blockchain in documentary L/C operations?

Seven Steps of Blockchain Based Letter of Credit

Revisiting traditional L/C cycle for comparison with blockchain based L/C cycle

Blockchain Based Letter of Credit Cycle explained and compared

Limitations of Traditional LC

Basic Blockchain LC Solution

Future possibilities in Blockchain based L/C technology

Other concepts to learn to understand the blockchain based L/C operations

Quiz 14

Final Thoughts

Congratulations for completing this prestigious certification course

Final thoughts and reflections on the course


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4019014

Udemy ID

5/1/2021

Course created date

5/14/2021

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