Export Letters Of Credit - Webinar By ComplianceOnline (Banking and Financia)

Venue: Online Event

Location: Palo Alto, California, United States

Event Date/Time: Aug 23, 2012 End Date/Time: Aug 23, 2012
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Description

This 90-minute webinar will explain the mechanics and principles of export letters of credit, identifying pitfalls along the way, using real-life examples. You will learn why letters of credit might not get paid, understand standard and silent confirmation and learn 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 presenter will review and illustrate fundamental principles using real-life examples. 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.”

Venue

Online Event
2600 E. Bayshore Road
Palo Alto
California
United States
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