Understanding Bills Of Lading, Incoterm And Letter Of Credit Documentation In International Trade

Mr. Balan

Introduction

The export and import of goods to or from foreign sources entails more varied and greater risks than those encountered in domestic trade. In the
case of an export / import order, such risks can arise at anytime – from the obtaining of raw materials / finished products, to the manufacturing and
storing of the finished products and finally to the delivery and payment within the agreed time.


In the United States of America about 70% of documents tendered, drawn under Letters of Credit, to the financial institutions are rejected while in
the United Kingdom a sum of approximately GBP: 5.0 billion is lost annually through rejection of documents.


Thus, in view of the foregoing scenario, this 2-day programme is designed to enable you to better secure your interest as an exporter or an importer.

 

Course Content

1. Overview of import / export trade
2. Marine transport documents
3. Incoterms
4. Documentary credit
5. Documentary collection

 

Who should attend?

  • Entrepreneurs / Business owners
  • Business managers & executives
  • Accountants / Accounts Executives
  • Sales administration / export sales personnel
  • Shipping personnel
  • Everyone who has a need to understand import/ export documentation

 

Learning Outcomes

  •  Demonstrate understanding of the uniform practice and rules laid down by the International Chambers of Commerce in respect of Documentary Credits,Documentary Collections and the Incoterm
  • Interpret key issues in international trade transactions correctly to avoid the risks posed by improper documentation and thus enhancing their chances of receiving payment promptly
  • Use correct handling procedures and mechanics in import / export documentation in order to minimize discrepancies and save their company inconvenience, time and money through unwarranted litigation
  • Learn and avoid costly mistakes of others on documentation.
  • Rectify inaccurate concepts picked up from the market place and Bankers
  • Decide on the most appropriate contract of sales suitable for their operations thus enhancing company effectiveness and efficiency
  • Expedite transactions with the correct shipping documents
  • Determine the most appropriate payment method for each transaction to ensure speedy payment or delivery