COURSE CONTENT
Basics of trade financing
• Requirements, risks and precautions of buyers and sellers
• Sight and usance terms
Incoterms
• CIF; FOB; CFR; etc
• Common trade documents
• Financial documents
• Commercial documents
• Transport documents
• Insurance documents
• Official documents
Various methods of payment
• Advance payments
• Open accounts
• Collection
• Letters of Credit
Collection bills
• Documents against Payment
• Documents against Acceptance
• URC 522
Letters of Credit Bills
• Parties involved
• Advantages & disadvantages in using LCs
• Various types of LCs
• Values of LCs to importers/exporters
• UCP 500
• How to open an LC
• Discrepancies in documents
• How to deal with discrepant documents