Course Objective
This course aims to equip students with essential knowledge and practical skills in international trade documentation. Students will learn to effectively use Incoterms 2020 to establish clear responsibilities between buyers and sellers, and master the fundamentals of Letters of Credit as a secure payment method in international trade. By the end of the course, students will be able to select appropriate Incoterms, prepare Letter of Credit documentation, identify potential risks, and make informed decisions in international trade transactions. The course combines theoretical understanding with practical applications, ensuring students can confidently handle international trade documentation and payment processes.
Course Overview
This comprehensive course provides essential knowledge and practical skills in international trade documentation, focusing on Incoterms 2020 and Letters of Credit. The course structure moves from fundamental concepts to advanced applications, combining theory with real-world cases. Students will participate in practical exercises, document analysis, and case studies to develop hands-on experience in handling international trade documentation and payment processes.
:Key Topics
- Introduction to International Trade Documentation
– Basic principles of international trade
– Documentary requirements
– Role of standardized terms and payment methods
- Incoterms 2020
– Rules and structure
– Groups (E, F, C, D) and their differences
– Cost, risk, and responsibility allocation
– Insurance and transportation considerations
– Choosing appropriate Incoterms
- Letters of Credit
– Basic principles and structure
– Types of L/Cs
– UCP 600 rules
– Key terminology
– Parties and their responsibilities
- Documentation and Compliance
– Required documents for L/Cs
– Common document discrepancies
– Document preparation and checking
– Bank examination process
– Compliance requirements
Course Duration: 8 hours
Course Materials:
Guide to International Trade and Finance” by the International Chamber of Commerce (ICC), Latest Edition
A Guide to Documentary Credits” by Gary Collyer, Latest Edition
Latest Incoterms® 2020 by ICC
UCP 600 (Uniform Customs and Practice for Documentary Credits)