Why should you Attend?
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) have repudiated the standby.
This session will take an in-depth look at how standby letters of credit work and the reasons they sometimes don't. Participants will learn how to protect themselves against non-payment.
Who will benefit?
This webinar will immensely help the following audience:
Buddy is a recognized expert in trade finance and author of numerous magazine articles and 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. He 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. Mr.
Participants/Registrants for our live events, may cancel up to 72 hours prior to the start of the live session and ComplyArena will issue a letter of credit to be used towards any of ComplyArena's future events. The letter of credit will be valid for 12 months.
ComplyArena will process refund in cases where the event has been cancelled and is not rescheduled within 90 days from the original scheduled date of the webinar. In case if a live webinar is cancelled, participants/registrants may choose between recorded version of the course or a refund. Refunds will not be processed to participants who do not show up for the webinar. A webinar may be cancelled due to unavoidable circumstances, participants will be notified 24 hours before the scheduled start of the event. Contact us via email: firstname.lastname@example.org or call +1-888-222-5917 (Toll Free).