Webinar on Export Letters of Credit
October 14, 2015 - Fremont CA USNetzealous - Compliance4All
support@compliance4all.com
Phone:+1-800-447-9407
Fax:302-288-6884
Overview: This teleconference will walk you through the steps in the life of a letter of credit, identifying pitfalls along the way. The teleconference will review and illustrate fundamental principles using real-life examples. Our presenter will explain how these principles apply to both commercial and standby letters of credit and how these two types differ. In particular, you'll learn why letters of credit might not get paid. Along the way, you will learn about standard and silent confirmation and how to get paid in hours instead of weeks. Why should you Attend: Letters of credit used in export sales (commercial L/Cs) are quite different from those credit managers are accustomed to using in domestic sales (standby L/Cs). The biggest difference is that export L/Cs are intended to be drawn on and thereby serve as the means of payment for goods shipped. The "rub" is that they tend to call for more documents, many of which are prepared by third parties. Export L/Cs are designed to serve as a reliable means of credit assurance and also an efficient means of payment. Yet 75% of the time the documents are noncompliant and it can take 3 to 6 weeks to get paid on a "sight" L/C. This session will provide participants with a detailed review of the mechanics of export L/Cs and how they are structured to assure fast payment. The discussion will then focus on the points at which the process tends to break down. Participants will learn how to get paid in one or two days, even when documents are discrepant, how to avoid discrepancies (and non-payment), and how and when to use "silent confirmations." Areas Covered in the Session: Export Credit Risks What Is a Letter of Credit? Mechanics and Principles of Letters of Credit Confirmed Letters of Credit Usance Letters of Credit Financing Letter of Credit Sales What to Ask for in Your Letters of Credit (Creating an Instructions Form) Who Will Benefit: Attorneys Credit and collection managers Presidents Vice presidents Business owners Managers Insurance professionals Lending professionals Accountants Bankers Speaker Profile: Walter (Buddy) Baker brings more than 30 years of experience in international trade finance to his current position as Vice President and head of Global Trade Solutions Delivery for Fifth Third Bank. Fifth Third is one of the 20 largest banks in the US and provides a full range of risk mitigation and financing products for exporters and importers. Mr. Baker’s professional experience includes earlier stints with Atradius Trade Credit Insurance, ABN AMRO Bank, Bank of America, Wachovia Bank, and The First National Bank of Chicago. Contact Detail: NetZealous LLC DBA Compliance4All, 161 Mission Falls Lane, Suite 216, Fremont, CA 94539, USA. Phone: +1-800-447-9407 Email: support@compliance4All.com http://www.compliance4all.com/ Event Link: http://bit.ly/1hYgki0