How to use the Letters of Credit to Export n Import?

Name: How to use the Letters of Credit to Export n Import?
Rating: 4.5 (13 reviews)

Master the Bank process involved in LC and their procedures. Do not miss your valuable Export Import opportunity!

Created bySenthilkumar Lakshmanan

Last updated 4/2026

English

What you'll learn

Detailed explanation on the Bank procedures followed in Letter of Credit (LC).
Exporters and Importers who are new to International Trade and LC; will get an overall LC knowledge and experience.
Exporters and Importers can decide whether to choose the LC or other Payment methods.
Discrepancies, LC fees, SWIFT message types used in LC are included to understand the Bank procedures.
Unlock the confidence to explore new markets with the LC protection from Banks
(For LC Doc Preparation at Low cost, visit our website "astanservices")

Course content

1 section • 9 lectures • 2h 33m total length

LC Guide - Bank procedures - Course Introduction9:51
This section will give the viewers, an idea of what they will get after completing this LC guide Bank procedure course.
LC Introduction - Types of Payment methods. Special features about LC.25:33
Viewers can see the common payment methods used in International Trade including Letter of Credit (LC). Why LC has Niche market is explained here.
LC Guide - Risk and Responsibilities of various Banks involved in LC14:33
This section helps the viewers to understand the Various Banks involved in the LC cycle. It also gives the roles and responsibilities of the Banks.
LC Guide - Documents and Payment movement between Banks18:02
Many times the Exporters and Importers who are new to LC are always worried and puzzzled on what happens to their documents presented or to the LC payment they are waiting for. This section will give the Viewers a clarity on the above two issues.
LC Guide - ICC Publications guiding LC practice18:35
LC is special because it is properly guided and standardised by the Trade promoting body called International Chamber of Commerce (ICC). ICC issues various publications to promote the Trade. LC also has few ICC publications. These are introduced here in this section.
LC Guide - LC Payment Issuance and LC fees19:29
This section will give introduction on the LC fees involved. This also clarifies the Banking system procedures for Issuing a LC and making payment.
LC Guide - LC SWIFT fields and Common SWIFT messages used in LC17:15
Sample LC is introduced here and each fields are explained. There are many SWIFT message types used in LC which are explained here in this section.
LC Guide - Common issues faced by Exporters, Importers and Banks13:28
LC is a complex product. A small error due to misunderstanding of the rules and regulations will create big problem in the LC cycle. This section discusses about the common problems faced by the Exporter, Importer, and Bankers.
LC Guide - Common discrepancies arise in LC presentations16:47
This section introduces the common discrepancies quoted by the Banks and explains few points about the nature of each discrepancy.

Requirements

Open to all course who are in International trade. Exporters or Importers who are new to International trade and who explores a secured payment method can know more about the best payment method called as LC. Bankers who handle different sections can know the end to end cycle about LC and can choose a career in LC.

Description

End to end to knowledge about LC and the Banking procedure followed in LC. This course explains the LC SWIFT fields, common SWIFT message types used in LC. Traders can know about the LC fees involved. This course also explains the common discrepancies involved in LC. This course covers the basic payments methods used in LC. Also explains why LC is unique when compared to other payment types. The course is divided into 9 modules. It will start with explaining the Course introduction. Then it will explain the LC introduction covering all the other payment methods used in international Trade. Next module covers the roles and responsibilities of the various Banks involved in LC. It will also cover the ICC publications used in LC. It gives general overview on the ICC publications like UCP600, ISBP, URR and INCO terms 2020. This explains the viewers about the common discrepancies arise while using the Letter of Credits as payment method in International trade.

(For LC Doc Preparation at Low cost, visit our website "astanservices")

Letters of Credit are one of the most secure payment instruments available but can be labor-intensive and relatively expensive due to bank fees. They are recommended for use in higher-risk situations, when the importer’s credit is unacceptable or not available, when dealing with a new or less-established trade relationship or when extended payment terms are requested.

The required documents are detailed and prone to errors and discrepancies. To avoid payment delays and extra fees, documents required by the Letter of Credit should be prepared by trained professionals.

Additionally, the exporter should consult with their bank before the importer applies for the Letter of Credit. Ask about:

What type and size of export transactions are suitable for a Letter of Credit?
How much does a Letter of Credit cost? Who pays the fees?
How are disputes resolved between importer and exporter?

Who this course is for:

You get clarity on the Bank procedures followed in LC.
You understand more about LC and why it is so secured.
You will understand the basic discrepancies and the avergae fees involved in LC Cycle.
You will get a clarity on the ICC publications which guides the LC. Introduction to INCO terms 2020 involved.