FCIB's Webinar Training Series - Letters of Credit: Beyond the Basics

Summary

Webinar at a glance:
Use Letters of Credit to your Advantage. Uncover the secrets of complying with Letters of Credit. Learn when letters of credit are most appropriately used and how to use them effectively. Discover when NOT to use a letter of credit. Learn the tricks of the trade and what banks are looking for when they examine the documents on a Letter of Credit. Understanding the intricate parts of a Letter of Credit (what to expect and not to expect) will help you make an “informed” payment term decision.

Topics that will be covered

• Understand how to use Letters of Credit effectively
• Realize the common discrepancies in documents involved with a Letter of Credit
• Find out how to avoid discrepancies
• Discover the roles of each of the banks involved in the Letter of Credit process
• Learn the rules that govern Letters of Credit (UCP600, ISP98, Bank to Bank Reimbursements)
• Discover what “NEW” rules might affect your transactions
• Understand the difference between “By Negotiation”, “By Acceptance”, “By Payment”, and “By Deferred Payment”
• Find out why it is important to send your customer instructions for opening the Letter of Credit
• Discover the advantages of a “discounted” Letter of Credit
• Learn about financing with Letters of Credit
• Find out how a Banker’s acceptance works
• Uncover the “tricks of the trade” to ensure a quick and easy payment
• Case studies