$299.00
- Format:Webinar
- Education Type:BCU Webinars
- Line of Authority:N/A
- Language:N/A
- Credit Hours:N/A
Description
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
- Letter of credit terminology
- How standby LC’s and commercial LC’s function
- The Uniform Customs and Practices (UCP) for
- Documentary Letters of (UCP 600)
- The International Standby Practices (ISP 98)
- 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
