This eCourse consists of three modules. Module 1 describes how documentary collections work, outlines the role of the parties involved, and lists the benefits and drawbacks of this method of payment. It also covers the Uniform Rules for Collections (URC), the internationally-recognized rules for all parties involved in documentary collections.

Module 2 looks at open account trading in detail, including the risks it creates for exporters and how they might go about reducing their exposure to those risks.

Module 3 deals with the tools available to importers and exporters to ensure that trades are conducted with certainty and that disputes do not easily arise. We will explore the different trade documents that assist in this regard and the application of Incoterms 2010, which are the most recent set of international trading rules prescribed by the International Chamber of Commerce.

On completion of this course, you will be able to:
- Define a documentary collection and recognize its role in facilitating payment for international trade transactions
- Recognize the benefits and drawbacks of documentary collections from the point of view of buyers/importers, sellers/exporters, and the various banks involved in the process
- Summarize the key requirements of the Uniform Rules for Collections (URC 522) that govern documentary collections
- Recognize the benefits and drawbacks of using open account terms in international trade
- Identify the risks associated with open account trading and how these can be mitigated, as well the options for exporters for obtaining finance when they provide open account terms to importers
- List the different types of trade documentation and their uses
- Describe the different Incoterms and the implications each one carries for importers and exporters

Module 1: Documentary Collections
Topic 1: Overview of Documentary Collections
Topic 2: Benefits & Drawbacks of Documentary Collections
Topic 3: Uniform Riles for Collections (URC 522)

Module 2: Open Account Trading
Topic 1: Overview of Open Account Trading
Topic 2: Risk Mitigation & Financing

Module 3: Trade Finance Documentation & Incoterms
Topic 1: Trade Documentation
Topic 2: Incoterms