Many people think of standby letters of credit as nearly equivalent to cash. What they don’t realize is that many letters of credit don’t get paid when called upon. Most often this is due to misunderstanding how standbys work and then failing to present the documents correctly; indeed, occasionally it is not even possible to present the documents that are called for. Sometimes it is because the bank that issued the standby is ordered not to pay by a court either because the customer has gone bankrupt and payment is deemed a preference (exactly what you thought the standby was protecting you against) or because the customer claims you have no right to the payment and has managed to get an injunction. And sometimes it is because the bank that issued the standby has been declared insolvent and the regulators (e.g., the FDIC insurance limits, the FDIC coverage limits) have repudiated the standby.
Why Should You Attend:
This webinar will take an in-depth look at how standby letters of credit work and the reasons they sometimes don’t.
Areas Covered in this Webinar:
Mechanics and Principles of Letters of Credit
Confirmed Letters of Credit
Understanding Standby Letters of Credit?
Using Standby Letters of Credit
Competing Rules Governing Standby L/Cs: Which to Use
Things That Go Wrong and How to Avoid Them
Tips for Using Standby L/Cs Better
Who Will Benefit:
Credit and Collection Managers
Walter (Buddy) Baker brings more than 30 years of experience in international trade finance to this presentation. His professional experience includes stints with Atradius Trade Credit Insurance, ABN AMRO Bank, Bank of America, Wachovia Bank, and The First National Bank of Chicago.
Buddy is a recognized expert in trade finance and makes frequent presentations for national associations of exporters, importers, bankers, and lawyers. He owns the consulting firm Global Trade Risk Management Strategies, which specializes in both online and on-site educational training, and designed the online training/certification programs used by the Association of International Credit and Trade Finance Professionals (ICTF) and by the Association of Trade and Forfaiting in the Americas (ATFA) and the trade finance sections of the certification program used by the Finance, Credit and International Business Group (FCIB) of the National Association of Credit Management (NACM).
For more detail please click on this below link:
Toll Free: +1-844-746-4244
There may be many networking opportunities at the Standby Letters of Credit (for Credit Managers)- By Compliance Global Inc.. Find out more in the event details below.
|Conference/Event Dates:||11/09/2016 - 11/09/2016|
|Other Industries:||Banking-Money-Finance, Business|
|Cost to Attend:||Live Session for one participant Price: $165.00|
Credit and Collection Managers
|Show Owner:||Compliance Global Inc.|
|Sponsorship Details:||Compliance Global Inc.|
|Booth Size||Booth Cost||Available Amenities|
|Marketing Vehicles Allowed:||n/a|
|Other Booth Sizes Available: n/a|
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