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September 15, 2020
This free webinar will enable you to understand when and how to use a Letter of credit to your advantage. Upon completion of this course, you will be able to answer what is a letter of credit, and should we be using one to manage our risk and exposure? You will also be able to introduce specific strategies and tools to use when beginning a negotiation with an international client. As well as how to integrate incoterms strategically.
- What is a letter of credit: Confirmed, irrevocable, stand by, back-to-back.
- L/C Presentation: what are my options? Time, sight, drafts.
- L/C Negotiation – understanding the role of issuing, advising, confirming, and negotiating banks.
- L/C Documentation – Who is responsible for the creation and accuracy of proforma invoices, insurance, or inspection certificates, choosing terms of sale. What is the bank’s role with these documents?
- Common L/C discrepancies-expiry dates/import licenses/certificates of origin/payable at the sight of U.S. bank.
- Definitions of all terms and parties, such as the applicant, beneficiary, T/T, documentary collection.
- Specific strategies and templates to use when negotiating an L/C.
Funded in part through a grant with the NC Manufacturing Extension Partnership