September 16, 2015
12:00 p.m. EDT (9:00 a.m. PDT)
Export LCs serve as an efficient means of payment and reliable means of credit assurance, however, if the documents are noncompliant, it can delay your payment up to six (6) weeks. This webinar discusses the details of unconfirmed LCs, confirmed Lcs and standby LCs.
Sherri Lane, Director of Consulting and Insurance Services, and Charlie Kelly, vice president of Trade Technologies Inc., will help you sharpen your basic understanding of letters of credit. Learn how to accelerate cash flow and streamline trade, details about the nuts and bolts of the LC process, how to avoid discrepancies and how to make LCs an effective payment mechanism or a major headache and how you can avoid the latter.
We will review the basic principles and mechanics of letters of credit. How do you structure the flow, what are the guiding principles of LCs and how do you use them to mitigate risk?
Also discussed will be Confirmed Letters of Credit. How does the flow change when you add a fourth party to the structure? What additional risk mitigation steps do you need to take? What are the possible problems with confirming banks and what can you do to solve those problems?
Do you know about the rules that govern an International Letter of Credit? How are letters of credit made available, where do you go when you need one? What are the steps to take when adding an advising bank, a nominated bank and a reimbursing bank? Do you validate the bank? What are the rights of a negotiating bank? Is there any negotiation available with recourse? How do you identify discrepancies and how do you resolve those discrepancies?
What is SWIFT? We will briefly review and dissect a typical LC in the SWIFT format. Hear about practices on managing your LCs. How can you save your company money by centralizing collection of letter of credit payments?
Who Should Attend
International Credit Professionals, Trade Finance Professionals, Export Compliance Professionals, Exporters, Importers, Sales Managers, Purchasing Managers, Customs Brokers, Attorneys, International Bankers, Trade Advisors & Consultants.
To register for this event, please visit members.citt.ca/citt/CITT/Events/Event_Display.aspx?EventKey=WLTR16.