Letter Of Credit Ucp 600 Negotiation Of Bills
Tags: Trade and Commerce
Letter of Credit, Detailed explanation of UCP 600 Articles, LC Bill Scrutiny | Introductory Guide to CDCS Exam
Last updated 2022-01-10 | 4.4
- Process Flow of Letter of Credit- Types of LC
- Crystal clear concepts of parties/roles/terms/jargons related to Letter of Credit
- Practical Approach to UCP 600 with examples
- Common Discrepancies
- FAQs in Document handling
- MT700 Swift Message - Understanding LC Issuance
- Future of Document Checking - Automation with Machine Learning
What you'll learn
* Requirements
* No prerequisites* just curiosity about the world of international trade finance :)
Description
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Latest advancement in trade finance - Automation of Examination under Documentary Credits - On Overview
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Are you new to the trade finance domain? Are you confused about how to begin learning about Letters of Credit? Are you interested to get certified on Letter of Credit handling but not sure where to start?
Then this course is for you!
Welcome to the course on International Trade Finance - Letter of Credit & UCP 600
Letter of Credit is one of the pillars in international trade finance. The knowledge of letter of credit is essential not only for bankers but also for export-import businessmen or employees in the trading domain.
What will you get out of this course?
Be confident to handle documents against Letter of Credit
Be confident to issue a Letter of Credit
Be aware of how to scrutinize the common documents and the common discrepancies found
Understand the Articles of UCP 600 with examples
FAQs related to the practical hindrances faced in handling LC documents
Be updated with the latest advancements - Automation of Document checking using Machine Learning
Who is this course for -
Bankers
Business Analysts/ Consultants of trade finance
Students in international trade
Businessmen in the Export-Import domain who want to understand the payment methods available to them
Employees in Trading Organizations
What this course covers?
Letter of Credit – Detailed Process flow, Parties and Banks involved, and Related Knowhow
Difference between Purchase, Negotiation, and Discounting of Bills
Incoterms® 2020 and Letter of Credit
Types of Letter of Credit - In Detail
Samples of real-life documents presented under LC and important fields
UCP 600 - Easy way to remember the articles
Detailed Discussion on UCP 600 Articles with Examples
Scrutiny of Documents – What to look out for and the Most Common Discrepancies
Automation of Document Checking under Letter of Credit
Downloadable Resources - Ready Reckoners
How to issue a Letter of Credit - Understanding the MT 700 Swift Fields
CDCS Concepts - FAQs on UCP 600/ Documentary Credits
Practice Test
Why enroll?
This is a compact course that lucidly explains the entire process flow of a Letter of Credit, its various types. It discusses the practical aspects of UCP 600 and how to easily remember and implement the Articles of UCPDC 600.
This course also explains how to scrutiny bills under a letter of credit for negotiation/ purchase/ discounting. It teaches you the approach to check documents against the LC and teaches the most common discrepancies found in the various documents submitted under an LC, like Bill of Exchange, Commercial Invoice, Transport documents, Insurance, etc.
This course is highly recommended for anyone new in international trade finance or an export-import business.
This course is an introductory guide to the CDCS exam, you can invest just one hour in this course before you spend huge time and money on detailed courses.
Special care has been taken to ensure that all the explanations are simple and lucid so that anyone without any background in finance can understand.
Who this course is for:
- Business Consultants/ Bankers handling trade finance desk
- Export- Import Businessmen
- Employees of Trading Organizations
- CDCS/ CITF Aspirants
Course content
11 sections • 25 lectures
What is this course about? Preview 01:17
Introduction Preview 02:41
Process Flow And Roles of Banks Involved (Advising, Negotiating, Reimbursing) Preview 05:42
Vital Points about LCs Preview 02:37
Differences among Discounting, Purchase and Negotiation Preview 06:44
This lecture explains the differences between discounting, purchase, and negotiation of bills. We will also learn the meaning of some other commonly used terms in LC handling.
Incoterms® 2020 and Letter of Credit Preview 06:38
This lecture explains how compatible Incoterms are with a letter of credit.
Classification of Letters of Credit Preview 02:47
Confirmed and Unconfirmed LC Preview 01:19
Red Clause LC and Green Clause LC Preview 01:29
Revolving LC Preview 02:37
Transferable LCs - Process Flow Preview 02:45
Back to Back LC - Process Flow Preview 02:27
Invoices/Certificates/Transport Docs/Insurance Preview 07:25
Categories of Articles of UCPDC 600 Preview 02:47
Understanding the Articles of UCP 600 Preview 12:03
Before starting scrutiny of LC Bills Preview 02:39
Common Discrepancies Preview 06:39
Understanding Automation of document checking under Letter of Credit Preview 09:11
This video gives an overview of the various technologies used to automate the document checking under a letter of credit. It gives a brief introduction to the concepts of - OCR (Optical Character Recognition), RPA (Robotic Process Automation) NLP (Natural Language Processing) Machine Learning and Deep Learning
Downloadable Resources Preview 00:02
MT 700 Swift Messages - Understanding Issuance of a LC and the Best Practices Preview 22:22
Here we will analyze each field of a MT 700 Swift message type to understand how a LC should be structured following ICC's guidelines on best practices.
CDCS Concepts - FAQs on UCP 600/ Documentary Credits Preview 19:32
These FAQs on UCP 600 and Lettesr of Credit are carefully curated to provide answers to real life scenarios that you may face as a banker handling trade documents. These also provide a clear understanding of various concepts related to letters of credit and UCP 600 which are very much relevant in the CDCS exam.