Strict Compliance To Letters of Credit & UCP 600
Venue: Legend Hotel
|Event Date/Time: Sep 10, 2008||End Date/Time: Sep 11, 2008|
revise their operations on the documentary credits.
It was found that more than 50% of the documents presented by the importers and exporters
to the banks for payment under the letters of credit are rejected on their first presentation.
It has now become necessary for these importers and exporters to efficiently streamline their
operation on the documentary credits so as to save time, costs and unwanted litigations.
Otherwise, the negotiating bankâ€™s ability to pay against documents submitted under a letter
of credit depends entirely on the strict compliance of these documents with the terms and
conditions of the credit and the provisions of the Uniform Customs and Practice for Documentary
It is the aim of this facilitator then to show how a letter of credit is workable, trouble-free and
provides the security of payment for which the letter of credit was requested in the first
It is essential for the importers and exporters to understand the importance of the bankâ€™s
application to open a letter of credit, particularly with relevance to the new UCP 600. Thus
working through the various sections of a bankâ€™s application form for opening letter of credit
will help to reduce discrepancies and related unplanned costs.
Then, it will be found that more than 70% of documents presented will now be readily
accepted on their first presentation.
~ Practical views from a previous Loan Manager ~
* Understand Letter of Credit
* Types of Letter of Credit
* Mechanics on Letters of Credit for Export Executives, Exporters and Importers
* Compiling Documents under a Letter of Credit
* Legal implication of a Bill of Exchange and others
* Checklist on Application of a Letter of Credit
* Relevant INCOTERMS 2000
* Important Marine Cargo Insurances
* Documentary Credits for Collection
* Bankâ€™s Documentary Collection/Negotiation Form
* ICC Uniform Rules for Collection
* Types of Guarantees and Bonds
* Appreciate new UCP 600 and ICC Uniform Rules for Collection
Who Should Attend
Finance Managers, Accountants, Financial Controllers, General Managers, CFO, COO, CEO, and Directors.