h2g2 The Hitchhiker's Guide to the Galaxy: Earth Edition

Does anyone have any experience of working with Letters of Credit (as the seller?)

Due to circumstances that I'd rather have avoided, I suddenly find myself employed as a bean counter, in charge of the team handling our letters of credit (Accounts Receivables).

What I'm after is a publication, or website, that explains each of the fields in a Letter of Credit, so that I can find out a bit more about them in general, and train some of my sidekicks.

Sorry, no, but I'll ask Mr Vip and see if he does. I don't know if that's something he works with though.

Didn't we have this discussion before or something similar? From our office, we were all sent on Chamber of Commerce courses - they were pretty thorough. We got lots of bumph, just the sort you describe. Our local IHK also runs refresher/update seminars every January.

Your company are obliged to support this and to give the employees a few days (isn't it 6?) off for training per year.

Now you mention it, TC, I think we did. But I don't think I got any further.

The training is something I'm working on - but the company is having a bit of a hissy fit over sending me on one because I've been handling our L/Cs (from the Sales Operations point of view) for around 8 years...

But I also need to train up a few people in a hurry, so they can cover for me when I'm on holiday...

Sorry Sho, he knows what they are but doesn't know then I'm any great depth.

no experience whatsoever, in fact clueless but I tried a goggle, you never knows



http://www.wholesaleforum.com/discuss/import-export-discussion-10/documentary-letters-credit-explained-import-export-standby-letters-credit-19694/

I can send you some links in German. will mail them. But you should try your own chamber of commerce. They have some really good leaflets.

"Does anyone have any experience of working with Letters of Credit (as the seller?)"

Well, for about eight years I was shipping manager for a multinational company based in Sydney, Australia - but that was more than 30 years ago...

There's nothing very complicated about dealing with non-negotiable documentary letters of credit. The person handling foreign business at your local bank should be happy to go through one of their forms with you. I must have dealt with hundreds of shipments over the years without any training whatsoever.

However, it is most important that the conditions mentioned in the letter of credit are in accordance with your requirements, and that all documentation called for is provided (and typed) EXACTLY as stated in the letter of credit - the smallest typo can cause delays, and require you to request an amendment... so, sharp eyes are essential.

Naturally, stock must be available to ship, so close liaison with stock control, purchasing, and shipping departments is necessary...as delays are likely to require you to request an extention to the life of the letter of credit.

I'm ok with actually working with them, I have been doing it for around 10 years.

What I'm looking for is a publication or website that someone can recommend, that explains each field (eg: Field 44A and 44B apply only to shipments by truck, if they have a vessel shipment they will need 44E and 44F...) so that I can use it to explain to the sales operations and logistics people that they have to check the L/C when they get it and look out for that kind of thing.

Because although I check each final draft I don't have time to check each and every draft that goes accross my desk, or I'd never get away.


of course, I can go to the chamber of commerce (which I did) but they didn't have anything that was really in a simplied form. Likewise the bank who sent me the ERAS and UCP600 - but they are very dry and technical.

I'll see if we have something in all the folders we were given on our courses a couple of years ago. They're at the office, so I'll have to scan them and mail them to you. Can you mail me your work addie?