Using proper letter of credit practices can help your institution provide excellent customer service and minimize risk. This webinar offers a comprehensive look at letters of credit, including letter of credit terminology, structure, and function.
Both commercial letters of credit and standby letters of credit will be discussed, including their content, conditions precedent to payment, and the mechanics of their actual presentment for payment. Bankruptcy issues and common problems will also be reviewed.
What You’ll Learn
- The Uniform Customs and Practices (UCP) for documentary credits
- Presentment for payment
- Letter of credit rights and liens on letter of credit rights
- Letter of credit facilities in loan agreements
- Letters of credit issued by banks that later fail
- Article 5 of the UCC
- Assignment and transfer of letters of credit
- Letters of credit vs. guarantees
- Letters of credit in bankruptcy
Who Should Attend
Loan officers, operations officers, credit administration personnel, and others involved in the letter of credit function will find great value in this course.
