Export Letters of Credit

Compliance4All announces webinar on the topic, “Export Letters of Credit” on October 14. This webinar will walk participants through the steps required in a letter of credit, helping them identify pitfalls along the way.

Fremont, CA: Compliance4All, a provider of cost-effective regulatory compliance trainings for a wide range of regulated industries, will organize a webinar on October 14. Buddy Baker, Vice President and head of Global Trade Solutions Delivery for Fifth Third Bank will be the speaker. The topic of this webinar is “Export Letters of Credit”.

About the webinar:

The speaker at this webinar will help participants understand the steps needed for a letter of credit and helps them identify pitfalls along the way. He will review and illustrate fundamental principles using real-life examples.

For more information or to register for the webinar, please click here.

Letters of credit used in export sales (commercial L/Cs) are quite different from those that credit managers are accustomed to using in domestic sales (standby L/Cs). The biggest difference is that export L/C’s are intended to be drawn on and thereby serve as the means of payment for goods shipped.

However, they require furnishing of too many documents, many of which are prepared by third parties. Even through Export L/C’s are designed to serve as a reliable means of credit assurance and are an efficient means of payment; on three fourths of the occasions, 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 dynamics of export L/Cs and how they are structured to assure fast payment. It 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.”

In this session, participants will get to understand the ways in which principles apply to both commercial and standby letters of credit and how these two types differ. In particular, the speaker will make them understand the important point of why letters of credit might not get paid. He will teach participants about standard and silent confirmation and how to get paid in hours rather than weeks.

About the Speaker:

Walter (Buddy) Baker owns the consulting firm Global Trade Risk Management Strategies, which specializes in educational training, and makes frequent presentations for national associations of exporters, importers, bankers, and lawyers.

He has authored the books Users’ Handbook to Documentary Credits under UCP600, Documentary Payments & Short-Term Trade Finance, and The Regulatory Environment of Letters of Credit and Trade Finance.

About Compliance4All:

Compliance4All (http://www.Compliance4All.com/) is a specialized offering from NetZealous, a Fremont, CA-registered organization. It is a source for a wide range of professional trainings, compliance trainings and consulting for the regulated industries. Compliance4All offers a broad range of high quality, affordable regulatory and compliance-related services relating to medical devices, pharmaceutical, FDA, clinical trials, laboratory compliance, biologicals, drugs, food and biotechnology.

Many professionals in the various areas in which Compliance4All offers its trainings have benefited from the vast experience of its well-known speakers, who are reputed globally in their respective fields.

Contact information:

Call: 1-800-447-9407;

Visit: http://www.netzealous.com/