Educational Opportunities
How Letters of Credit Work (…and Why They Sometimes Don’t)
A well-crafted letter of credit ensures that suppliers who deliver agreed-upon goods in the agreed-upon timeframe will receive prompt payment in return, right?
If you’re not sure of the answer, it’s time for a review of letter of credit basics!
While a letter of credit may appear to be an absolute assurance that a bank will pay your customer’s debts should they run into financial trouble, what you’ve actually got is a very strict set of requirements you must meet to receive payment.
This common misconception has fooled many credit managers into thinking that they have credit protection only to have it will fail just when it’s needed most!
The fact is, many credit managers receive only a basic orientation in letters of credit and are often left frustrated and confused when the letters of credit don’t really work the way they thought.
Please join IOMA and credit expert Buddy Baker March 4th at 2PM ET for a special interactive webinar outlining the fundamentals of both commercial and standby letters of credit. Using real-life examples, you’ll gain an in-depth understanding of the steps in the life of a letter of credit, identifying pitfalls along the way.
Register today and you’ll learn how to avoid the most common mistakes, and why letters of credit might not get paid. You’ll also learn about standard and silent confirmation and how to get paid in hours instead of weeks.
In just 90 minutes, you’ll learn:
- How banks determine whether or not to pay their letters of credit
- How to avoid discrepancies in letter of credit documents
- The circumstances under which bankruptcy of a customer can prevent payment of their letters of credit as preferential payment
- How to negotiate language that provides both solid protection and quick payment
- How rules and regulations—like UCP—can affect your ability to get paid
Plus, get answers to your toughest questions in the LIVE Q&A session following the presentation. AND you can invite your entire department—for one low price!
Your single paid registration entitles you to as many participants as you wish in a conference room setting.
