We believe that information about most of the hot topics to do with trade procedures are available on the SITPRO website, but are conscious of the need to produce more. Consequently, three new financial briefings have recently been added:
- The first, on Demand Guarantees, uses simple easy-to-follow flow charts explaining the different types available and how they work. The Briefing also highlights some of the pitfalls to watch out for when using Demand Guarantees.
- The second briefing is on Letters of Credit, commonly referred to by the Banks and other financial institutions as Documentary Credits. It tells you what types of Letters of Credit are available and the internationally agreed rules that govern their operation.
- The final Briefing aims to give you a simple, easy to read and understand best practice guide for the operation of a Letter of Credit starting at the negotiation stage through to what to do if a Letter of Credit is rejected on first presentation by the Bank.
We have a number of further ideas for future briefings. Importing is an obvious gap that SITPRO plans to address and hopefully a briefing on import procedures will be produced soon. However, if you have your own ideas on what you would find a useful addition to the range of information we currently provide we would be delighted to hear from you.
Please take a moment to look at the FAQs and Briefings on www.sitpro.org.uk/trade/ and, if you would like to suggest subjects to be added to the information available, please contact Nick Kasper (nick.kasper@sitpro.org.uk 
).
Return to SITPRO News: Issue 47, October/November 2003