International Letter Of Credit Ucp Advanced Certification

How International Letter of Credit Works? UCP 500 / 600 and ISBP 2007, Types of LCs, LC Discrepancies, LC Precautions

Last updated 2022-01-10 | 4.1

- 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.

What you'll 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

* Requirements

* There are no course pre requisite to this course
* Little knowledge of typical export process is desirable

Description

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

Course content

17 sections • 120 lectures

Introduction 6 lectures

Course Introduction Preview 00:06

About the course Preview 05:31

Why letter of credit? Preview 00:06

What is Documentary Letter of Credit and its rationale? Preview 05:44

Typical exports framework Preview 00:12

Understanding Typical Exports Transaction Cycle Preview 06:51

Receiving International Payments 7 lectures

International Trade Financing Preview 00:07

Introduction to international trade financing Preview 03:26

International payments methods explained Preview 00:07

Primary methods of receiving international payments Preview 12:32

Level of risks associated with the different international payment methods Preview 00:07

A typical international payment risk ladder explained Preview 01:15

Quiz 1

Choose the one that is best

How documentary letter of credit works? 9 lectures

Exporter's dilemma Preview 00:11

International trade financing instrument of choice for exporters Preview 02:18

Understanding basic traditional LC cycle Preview 00:10

Basic L/C Cycle Preview 03:42

Traditional L/C cycle explained in detail Preview 00:10

Typical L/C Cycle Explained Preview 02:59

Role of several intermediaries in the LC operations explained Preview 00:06

Role of various parties in typical documentary L/C cycle Preview 09:32

Quiz 2

Choose the one that is best

What factors governs the documentary letter of credit? And Basic Features of UCP 14 lectures

A diverse world and the challenges of dealing with it Preview 00:15

Challenges of world of differences Preview 05:35

The solution Preview 00:10

What is UCP? Preview 03:04

How does ICC document defines the players involved in its scheme of things Preview 00:10

Parties to the international transactions as per UCP Preview 03:55

Role of letter of credit as explained in UCP Preview 00:05

Rationale of the L/C as per UCP rules Preview 03:57

Summary of the Doc Credit Features as per UCP Preview 02:09

Defining scope of L/Cs Preview 00:12

What an L/C can do and what it can not? Preview 06:53

So what is the basis of documentary letter of credit? Preview 00:06

Basic tenet of Documentary L/C as per UCP Preview 02:15

Quiz 3

Choose the one that is best

Several Types of Documentary Letter of Credits 4 lectures

Types of Documentary Credits Preview 00:04

Why several different types of doc letter of credits are there? Preview 03:22

Several Different Types of Documentary L/Cs Preview 17:56

Quiz 4

Choose the one that is best

Documentary Letter of Credit Opening Instructions 6 lectures

Seller's role in initiating the L/C process Preview 00:20

Why seller's role in framing the first L/C opening instructions? Preview 04:57

Seller's L/C opening instructions example - Part 1 Preview 08:05

Seller's L/C opening instructions example - Part 2 Preview 07:37

Seller's L/C opening instructions example - Part 3 Preview 08:20

Quiz 5

Choose the one that is best

Common Discrepancies in the letter of credit and presentations 5 lectures

L/C flaws discussed Preview 00:06

Common Discrepancies in the doc letter of credit received by the seller Preview 09:31

Documentary discrepancies explained Preview 00:12

Common discrepancies in the documents presented by the seller against the L/C Preview 19:29

Quiz 6

Choose the one that is best

Impact of local regulations on the documentary credit operations 5 lectures

Impact of local central bank's FX control related policies Preview 00:08

Local Exchange Regulations Impacting L/C operations - Example of India Preview 07:41

Local FX association's role described Preview 00:10

Local FX dealers association rules and its impact on international L/Cs Preview 10:50

Quiz 7

Choose the one that is best

International Standard banking Practices, 2007 3 lectures

ISBP - the ground zero guiding document Preview 00:18

ISBP Explained Preview 07:52

Quiz 8

Choose the one that is best

Documentary Letter of Credit Frauds 4 lectures

L/C Frauds explained Preview 00:12

Nature of international L/C frauds Preview 07:57

Prevention of international documentary letter of credit frauds Preview 09:09

Quiz 9

Choose the one that is best

Different L/C fees and Charges 5 lectures

L/C costs explained Preview 00:05

How L/C fee and costs are split between the seller and the buyer Preview 02:19

Typical L/C costs generally paid by the seller Preview 04:08

Buyer's Typical costs related to L/C Preview 02:01

Quiz 10

Choose the one that is best

Uniform Customs and Practices 600 revision - Overview 4 lectures

UCP overviewed Preview 00:04

Overview of UCP 600 Revision Preview 03:25

Overview of the history and process adopted for the UCP 600 review Preview 13:07

Quiz 11

Choose the one that is best

Comparing UCP 600 with UCP 500 6 lectures

Comparison of UCP 600 with 500 explained in short Preview 00:06

Overview of the main revisions in UCP 600 over earlier UCP 500 Preview 08:11

Case Study of Malhotra Exports: Role of National Courts and Local Interpretation Preview 00:09

Malhotra Exports Problem With French Bank Preview 09:55

Comparison with UCP 500 Preview 06:03

Quiz 12

Choose the one that is best

UCP 600 Articles 17 lectures

UCP Articles Highlighted Preview 00:05

Overview of UCP 600 revised articles Preview 03:02

UCP 600 Article 1 - Highlights Preview 03:32

UCP 600 Article 2 - Highlights Preview 04:04

UCP 600 Article 3 - Highlights Preview 02:39

UCP 600 Article 4 - Highlights Preview 02:09

UCP 600 Article 5 - Highlights Preview 01:14

UCP 600 Article 6 - Highlights Preview 01:18

UCP 600 Article 9 - Highlights Preview 02:26

UCP 600 Article 10 - Highlights Preview 03:45

UCP 600 Article 12 - Highlights Preview 02:17

UCP 600 Article 14 - Highlights Preview 10:13

UCP 600 Article 16 - Highlights Preview 02:25

UCP 600 Article 17 - Highlights Preview 02:00

UCP 600 Article 18 - Highlights Preview 02:28

UCP 600 Transport Articles 19 to 25 - Overview Preview 01:41

Quiz 13

Choose the one that is best

Blockchain Based Letter of Credit 14 lectures

Emerging blockchain technology and documentary letter of credit- time to change Preview 00:18

Overview of the new technology and its role Preview 02:25

Understanding what is Blockchain? Preview 03:00

Blockchain based letter of credit eco system Preview 04:07

What is the role and advantages of Blockchain in documentary L/C operations? Preview 09:43

Seven Steps of Blockchain Based Letter of Credit Preview 04:01

Revisiting traditional L/C cycle for comparison with blockchain based L/C cycle Preview 04:18

Blockchain Based Letter of Credit Cycle explained and compared Preview 06:08

Limitations of Traditional LC Preview 03:15

Basic Blockchain LC Solution Preview 03:18

Future possibilities in Blockchain based L/C technology Preview 02:32

Other concepts to learn to understand the blockchain based L/C operations Preview 03:11

Some real life examples of use of Blockchain based LCs in industry Preview 07:06

Quiz 14

Choose the one that is best

Understanding INCOTERMS® 2020 9 lectures

About INCOTERMS® Preview 01:11

Overview of INCOTERMS® 2020 Preview 06:18

About INCOTERMS® 2010 Preview 00:40

INCOTERMS® 2010 - All Transport Types Terms Explained Preview 12:34

INCOTERMS® 2010 - All Sea and Inland Water Transport Terms Explained Preview 03:38

INCOTERMS® 2020 Explained Preview 12:08

Quiz 15

Choose the one that is best

Case Study cum Assignment: Exports of Cotton Rugs to Italy Preview 13:21

Assignment on the Case Study: Exports of Cotton Rugs to Italy

This is an interesting case study on exports success and understanding of the letter of credit's role in securing exports orders. The case study is about an exports order interest received from an Italian Buyer to an Indian Exporter. He would study the offer and LC conditions before accepting it.