Join us for an Export Education webinar on International Banking on Thursday, January 23, from 10:00 am to 12:00 pm.
Program Overview:
Congratulations on securing the international sale! But how will you ensure payment? Pre-payment is great if you can get it, but it might make you less competitive. Are you familiar with all your payment options—Letters of Credit (L/C), Cash Against Documents, Open Account, and Prepayment? Why let your customer dictate the terms? When it comes to getting paid, will they always prioritize your interests?
This program will help you understand when and how to use a Letter of Credit to your advantage. By the end, you’ll know what a Letter of Credit is and whether it’s right for managing your risk and exposure. You’ll also learn specific strategies and tools to use when negotiating with international clients, including how to strategically integrate Incoterms.
Topics Covered:
- Types of L/C: Understand confirmed, irrevocable, standby, and back-to-back L/Cs.
- L/C Presentation: Explore your options with time, sight, and draft presentations.
- L/C Negotiation: Learn the roles of issuing, advising, confirming, and negotiating banks.
- L/C Documentation: Know who is responsible for creating accurate proforma invoices, insurance, and inspection certificates, as well as understand the bank’s role with these documents.
- Common L/C Discrepancies: Avoid issues like expiry dates, import licenses, certificates of origin, and payable-at-sight terms with US banks.
- Key Terms and Parties: Get clear definitions for applicant, beneficiary, T/T, documentary collection, and more.
- L/C Negotiation Strategies: Use specific strategies and templates for negotiating Letters of Credit.
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