A letter of credit is one method of payment used in international trade transactions. The Uniform Customs and Practices (UCP 600) are the current internationally recognized set of rules created by the International Chamber of Commerce (ICC) which govern the use of letters of credit. The benefit to using a letter of credit is that is provides a conditional guarantee of payment from the importer (applicant) to the exporter (beneficiary) if the terms and conditions of the documentary credit are complied with.
Why Should You Attend?
- Understand the process of a letter of credit;
- Reduce or prevent costly discrepancies and amendments;
- Learn the benefits of using a letter of credit.
Areas Covered in the Session:
- Letter of Credit (L/C) process
- Terminology in L/C
- Preparation of L/C Instructions
- Important areas to review in L/C
- Checklist for reviewing L/C
- Costs for importer and exporter
- Types of discrepancies to avoid
- Documents in a L/C
- Overview of the UCP 600
Ms Jan Seal,
Jan Seal is a management consultant on international trade and a licensed customhouse broker with over 35 years of experience in imports and exports. Ms. Seal is a frequent speaker/instructor at nation-wide seminars and webinars for international companies and trade organizations. She is also a consultant for medium to multi-national companies on trade compliance. She has taught courses for Import Specialist at the U.S. National Customs Academy. She participated in a committee to develop NAFTA training lesson plans for customs in the U.S. and was one of the first trainers working in the U.S. government that offered training to federal government employees and the public on NAFTA.
She is the author of six books on various international trade topics which are available on Amazon. Two of them include: NAFTA Rules of Origin and Documentation; and, Tariff Classification Using the Harmonized Tariff Schedule.
She received her BA degree from California State University at Fullerton with a year of post-graduate work in Education at the University of California, Riverside. She received her MBA at California State University, Dominguez Hills, and is a member of Delta Mu Delta National Honor Society in Business Administration.