Business West was delighted to deliver a bespoke training workshop on Letters of Credit to Amcor Flexibles, which is a global food and medical manufacturing company based in Bristol.
Due to a large proportion of first presentations to banks against Documentary Letters of Credit being rejected (over 50%), this results in delayed payments to exporters, additional costs, and breached delivery deadlines. Amcor Flexibles wanted a course that was suitable for its Distribution and Customer Service team to have a clear understanding of the procedures required to ensure payments for goods sold on documentary Letter of Credit terms.
Riva Arrivabene, Deputy Head of Distribution, Amcor Flexibles and Catherine Stephens, Head of International Trade Services, Business West
Catherine Stephens, Head of International Trade Services, Business West created a session that covered:
- What is a Letter of Credit (the different types) and how do they work
- Understanding the language, documents and requirements of a Letter of Credit
- How to check a draft Letter of Credit and make sure it is workable
- Parties involved - who is who and what is their role in the process
- Incoterms - these are important in Letters of Credit
- Preventing errors, common discrepancies and how to deal with them
- Presenting documents to the bank
- The rules – UCP600 and International Standard Banking Practice
The course was tailored to Amcor Flexibles’ requirements using real-life scenarios, their Letters of Credit, copies of their presentations to the bank and discrepancies that had been issued to Amcor Flexibles with solutions of how to get them right.
Business West delivers Letter of Credit training to Amcor Flexibles
Richard Cooper, Distribution Manager, Amcor Flexibles commented:
“The training course presented by Catherine was excellent, well presented and met everyone’s expectations. Catherine came across clearly and made the course easy to understand and enjoyable with her professional presentation. In addition, Catherine was approachable and knowledgeable, created a relaxed atmosphere and the clear instructions made what seemed like a difficult subject, easy to understand.”
Catherine Stephens, Head of International Trade Services, Business West, added:
“It was an absolute pleasure to create a bespoke Letter of Credit training course for Amcor Flexibles Winterbourne Limited. Letters of Credit can be very daunting if you don’t understand how they work, the terminology involved or the pitfalls of using them, which can ultimately result in non-payment for your goods. I have been working on Letters of Credit for over 25 years, so if you would like the benefit of my experience and would like some training in this area for your team, please get in touch.”
Business West runs a programme of International Trade online training (watch out for new 2024 dates coming soon!), as well as creating bespoke training courses, like the Letter of Credit course we created for Amcor Flexibles. If you are interested in a bespoke training course covering Customs Declarations, ATA Carnets or another area of International Trade please let us know.
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