Two 45-minute one-on-one tutoring sessions, preceded by a syllabus, reading, homework, and test questions, examining methods of international payment from the forwarder's perspective.
This program compares the main ways buyers and sellers settle international trade, weighs the risk each method carries for both parties, and steps through the Letter of Credit cycle in detail.
How an L/C works, the parties involved, and how to review the terms before shipment.
Open account and payment-in-advance terms, and where each fits in a trade relationship.
Using bank-handled documents and drafts to balance risk between buyer and seller.
The vocabulary you will become comfortable with includes Time Draft, Sight Draft, Drawee, Beneficiary, Applicant, Issuing Bank, UCP 600, INCOTERMS and their required documents, Confirmed credits, Pro Forma Invoice basis, Advising Bank, Collecting Bank, the Bank Letter of Transmittal, and reviewing the L/C itself.
Talk with H.C. Bennett about how this applies to your import or export operation.