Letters of Credit
05/20/2021 8:30 AM PT - 10:00:00 AM PT

Letters of Credit (LCs) have been used for centuries by importers and exporters to facilitate international trade and to mitigate risk. LCs come in various forms; some are for international trade payments, and some are used as performance guarantees. Learning about different types of letters of credit can help you choose which one to use and understand what you’re working with.

In this session we will cover the following:
• Discuss order fulfillment process and commercial contracts
• What is a Letter of Credit (overview and benefits)?
• LC flow and mechanics
• The role different banks play in the letter of credit process
• Compare commercial vs standby LCs
• The rationale for letter of credit confirmations
• Explore and discuss LCs with extended payment terms, variations and potential benefits to buyers and sellers
• Discuss LC best practices and how to avoid discrepancies




Instructor Bryan Hicks
Bryan Hicks has been involved with the international trade community in the Pacific Northwest for over 28 years. Over the past 7 years, Bryan has been with Wells Fargo Bank’s International Trade Services group covering the Pacific Northwest and Western Canada Region. Bryan consults local importers and exporters to enhance trade opportunities through trade finance, mitigate risk, and improve cash flow. Previous to working at Wells Fargo, Bryan worked at US Bank in various international banking rolls for nearly 23 years. He lives in Seattle.

Event Sponsor:  NACM Commercial Services

Course Level:  I - Intermediate

Credits:
CEU: 0.150
CCE: 0.150


Location:
Webinar
 


Price:
 Members: $49.00 Non-Members: $79.00

*Price is for admission only. Some events, especially college credit classes, have additional costs associated with materials, such as text books. See the event comments above for more details. Membership discount eligibility is at the discretion of the event sponsor.

Cancellations will be accepted for full refund no later than five working days prior to event — substitute attendees accepted up to day of event.