Seminar on the basics of letters of credit
(The Philippine Star) - October 13, 2019 - 12:00am

MANILA, Philippines — Letters of credit (LC) is one of the safest and most reliable commercial payment instrument and most commonly used in international trade transactions. With the ASEAN integration and expected increase in global trade, many businesses want to learn how to use this mode of payment.

To help businesses effectively use LCs, the Center for Global Best Practices, in collaboration with the International Chamber of Commerce, will host a two-day training titled, “Mastering the Basics of Letters of Credits” on Nov. 14 and 15, 2019 at the Marriott Grand Ballroom, Resorts World Complex, Pasay City.

This program will guide you on everything you need to know about LC transactions and operations. Attendees will learn practical steps and valuable tips in issuing proper LCs and how they work, what to do to avoid pitfalls, and actions to take in cases of discrepancies.

Discussion will also cover revised regulations and applications of UCP 600 involving letters of credit. Most importantly, you will learn how to handle the pitfalls and traps in the use of the various types of LCs in the international trade transactions. This program is highly recommended for importers, exporters, traders, manufacturers, entrepreneurs, bankers, insurers, transporters of goods, CFOs, company treasurers, lawyers (in case of trade disputes) and those interested in fully understanding how LCs work.

Registration is open to the general public. CGBP is also an accredited training provider of the Civil Service Commission. Attendees from the government can earn points for their career advancement and are exempted from the P2,000-limit set by COA when attending training conducted by the private sector based on DBM Circular 563 dated April 22, 2016. Interested participants are encouraged to avail of the early registration savings and group discounts for three or more attendees.  Seats are limited and pre-registration is required.

Check www.cgbp.org for details and a complete list of other best practices programs or call landlines in Manila (+63 2) 8842-7148 or 59 and (+63 2) 8556-8968 or 69, or Cebu (+63 32) 512-3106 or 07.

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