What is a Letters of Credit? Make Sure You GET PAID!

What is a Letters of Credit? Alan Bracken explains the basics and important points to be aware of if you intend to use a letter of credit as a method of payment. 70% of letters of credit are unpaid on first presentation. Understand what's required and make sure you're not one of them. In this video, the following points are discussed: 0:00 Introduction to Letters of Credit 1:32 The Definition of a Letter of Credit 6:22 Why Trade with Letters of Credit? 9:05 Types of Letters of Credit 23:47 The Rules of UCP600 For the full syllabus of our online Letter of Credit course, please see: https://www.abtslogistics.co.uk/lette... For more information see the ABTS® Website: https://www.abtslogistics.co.uk/ For more FREE, practical knowledge on various import export subjects check out our blog: https://www.abtslogistics.co.uk/blog/ Online Premium Courses: If you're really serious about starting your own import export business or getting into it as a career, check out our premium online courses: Export Documentation and Procedure: https://www.abtslogistics.co.uk/full-... Become a Successful Export Agent: https://www.abtslogistics.co.uk/impor... How To Buy and Sell Using a Letter of Credit: https://www.abtslogistics.co.uk/lette... #lettersofcredit #lettersofcreditexplained