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Letters of Credit - Types

Not every trade that involves a letter of credit is the same. Over the years, a number of different types have been used to suit particular circumstances that traders face when transacting across borders. This course describes the various forms that letters of credit can take on and outlines the key distinguishing features between the different types.

  • OBJECTIVES

    On completion of this course, you will be able to:

    Describe how letters of credit can be distinguished on the basis of some of their basic features

    Outline some special or customized elements of some letters of credit

    Explain the purpose of a standby letter of credit

  • COURSE OUTLINE

    Topic 1: Basic Features of Letters of Credit

    Clean vs. Documentary

    Sight vs. Usance

    Revocable vs Irrevocable

    Confirmed vs. Unconfirmed

    Topic 2: Special Features of Letters of Credit

    Red Clause

    Green Clause

    Transferable

    Back-to-Back

    Revolving

    Deferred Payment

    Topic 3: Standby Letters of Credit

    Documentary vs. Standby L/Cs

    Standby Letters of Credit

  • PREREQUISITE KNOWLEDGE

  • ESTIMATED COMPLETED TIME

    50 Minutes

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