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Letters of Credit Webinar

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$595.00

$595.00

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Full-Day Session — 8:30 a.m. to 4:00 p.m. Central Time

Certificate Issued Upon Completion.

It's all about getting paid. What's the point of entering into a sales agreement—domestic or international—if the buyer doesn't pay the seller and either party walks away unhappy? This webinar teaches you how to make a sale that guarantees the seller gets paid and the buyer gets the help he or she needs to finance the deal.

Learn to fully comply with Letters of Credit requirements. Get involved in the set-up process, learn the basic terminology and significance of various documents, and learn how to prevent and handle discrepancies. Learn how to ensure that you receive payment for your shipments, how to get paid faster, and how to lower bank fees.

If you take this webinar, you will learn how to:

• Select the most appropriate method of payment for the importer and exporter.
• Compare the cost and risks of the various letter of credit options.
• Open a letter of credit and get paid under its terms.
• Limit discrepancies under a letter of credit and resolve any disputes that may occur.
• Analyze and choose alternative methods of financing international transactions.

Prior to the webinar you'll receive the Letters of Credit in International Trade reference book filled with sample letters of credit, the UCP 600, and other important reference materials that will make your job easier.

Webinar refund policy. IBT will issue a complete refund if you cancel 30 or more days before the webinar date. No refunds are given for cancellations received within 30 days of the webinar. Cancellations received less than 30 days before the webinar are subject to a $125 transfer fee. Once the fee is paid, you may transfer to another class date within one full year. In fairness to all attendees, confirmed attendees who do not attend their scheduled webinar are liable for the entire fee. You may send a substitute if you are not able to attend at the last minute at no charge.

WHEN CHECKING OUT, PLEASE PROVIDE THE FOLLOWING INFORMATION ABOUT THE WEBINAR ATTENDEE IN THE "NOTE TO SELLER" BOX:

• Name
• Phone Number
• Email Address
• ​Company Name & Address

A WEBCAM IS REQUIRED FOR WEBINAR PARTICIPATION.

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WEBINAR AGENDA

I. INTRODUCTION/DECISION CRITERIA

• Decision Making and Payment Methods
• Risk to International Trade Payment
• Traditional Payment Methods

II. LETTERS OF CREDIT AS METHOD OF PAYMENT

• Parties to the Letter of Credit
• Payments under Letters of Credit
• Costs and Benefits
• Types of Letters of Credit

III. REVIEW OF L/C PROCEDURE AS EXPORTER AND AS IMPORTER

• Quotation
• Instructions for the Letters of Credit
• Checklist for Letters of Credit
• Document Preparation and Presentation
• Discrepancies
  
  

IV. LOOK AT VARIOUS TYPES OF L/C's

• Revocable or Irrevocable
• Confirmed and Unconfirmed
• Restricted Letter of Credit

V. SPECIAL TYPES OF LETTERS OF CREDIT

• Variations You Will See
• Revolving - Standby - Transferable
• Red Clause, Green Clause
• Time Drafts and Bankers Acceptances

VI. UNIFORM CUSTOMS AND PRACTICE FOR DOCUMENTARY CREDITS - RULES OF THE ARTICLES AND NOTE ON EACH ARTICLE

• International Standard Banking Practices (ISBP)
• Commentary on the UCC of the United States

         NOTE:  Discussion on UCP 600

VII. TRANSACTION REVIEW - EXPORT

• Amendment to the Letter of Credit
• Checklists
• Documents Checklist (Commercial Invoice, Bill of Lading, Packing List, Insurance, etc.)
• Letter of Transmittal to Bank

VIII. TRANSACTION REVIEW - IMPORT

• Parties Agree to Letter of Credit as Payment Method
• Buyer Applies for Letter of Credit
• Seller Receives and Accepts the Credit
• Nominated Bank Review Documents
• Issuing Bank Exchanges Documents for Payment
• Importer Picks up Goods

IX. CASE STUDY ON AN EXPORT LETTER OF CREDIT

X. NON-TRADITIONAL PAYMENT METHODS