Dhaka Chamber of Commerce and Industry (DCCI) organised a three-day training course for professionals that ended Wednesday aiming to provide practical knowledge on opening letters of credit (L/Cs) to deal with the export and import activities.
A total of 24 participants from different business organisations and individuals participated at their own expenses in the course titled "Understanding letters of credit (L/Cs): Procedures for Export and Import Operation" at the DCCI office.
The contents of the course were: letter of credit (LC) operation and settlement mechanism; different types of L/Cs and obligations of different parties involved in L/C, advising and confirming export L/Cs, back to back L/C and exercise on back-to back L/C; transport documentation, bill of exchange, UCPDC-600, invoice and other documents, international trade policy and procedures, inco-terms; scrutiny lodgment, retirement of import bills, pre-shipment and post-shipment export financing under L/C and negotiation of export documents etc.
Assistant Secretary (Training) of DCCI Business Institute (DBI) Tamanna Sultana coordinated the course.
Director and former senior vice-president of DCCI Abdus Salam and Director of DCCI Muktar Hossain Chowdhury were present at the closing and certificate-giving ceremony as the chief guest and the special guest respectively.
Participants in the training course said they had gathered useful knowledge and valuable information for dealing with L/Cs and export and import related issues.
The course has broadened their horizon of practical knowledge and enabled them to be conversant with opening L/Cs for export and import dealings.
Assistant Vice President of Shahjalal Islami Bank Ltd Md Rezaur Rahman appreciated the quality of two resource persons having vast knowledge and practical experience on the subject.
L/C is an indispensable document in international business. Considering competitiveness in global market, main activities of business houses are purchasing, marketing and knowing domestic and international procedures for export and import.
Abdus Salam said skilled, efficient, knowledgeable and trained manpower is a must for success in international trade.
He said when an L/C is opened, every clause in it should be properly checked before giving import or export orders.
Executive Director of DBI Md Hossain Ali thanked the participants for their positive evaluation. He urged them to be forward-looking so as to exploit emerging opportunities in the globalised market.
He stressed that their learning will be effective only if they apply their acquired knowledge in day-to-day activities and continue to enhance their skills. He also invited them to participate in other suitable courses of DBI, as needed.
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