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Overview:

Many people think of standby letters of credit as nearly equivalent to cash. What they don’t realize is that many letters of credit don’t get paid when called upon. Most often this is due to misunderstanding how standbys work and then failing to present the documents correctly; indeed, occasionally it is not even possible to present the documents that are called for. Sometimes it is because the bank that issued the standby is ordered not to pay by a court either because the customer has gone bankrupt and payment is deemed a preference (exactly what you thought the standby was protecting you against) or because the customer claims you have no right to the payment and has managed to get an injunction. And sometimes it is because the bank that issued the standby has been declared insolvent and the regulators (e.g., the FDIC insurance limits, the FDIC coverage limits) have repudiated the standby.

Why Should You Attend:

This webinar will take an in-depth look at how standby letters of credit work and the reasons they sometimes don’t.

Areas Covered in this Webinar:

Mechanics and Principles of Letters of Credit
Confirmed Letters of Credit
Understanding Standby Letters of Credit?
Using Standby Letters of Credit

Learning Objectives:

Competing Rules Governing Standby L/Cs: Which to Use
Things That Go Wrong and How to Avoid Them
Tips for Using Standby L/Cs Better

Who Will Benefit:

Attorneys
Credit and Collection Managers
Presidents
Vice Presidents
Business Owners
Managers
Insurance Professionals
Lending Professionals
Accountants
Bankers

Speaker Profile:

Walter (Buddy) Baker brings more than 35 years of experience in international trade finance to his current position as Vice President and head of Global Trade Solutions Delivery for Fifth Third Bank. Fifth Third is one of the 20 largest banks in the US and provides a full range of risk mitigation and financing products for exporters and importers. His professional experience includes earlier stints with Atradius Trade Credit Insurance, ABN AMRO Bank, Bank of America, Wachovia Bank, and The First National Bank of Chicago.

For more detail please click on this below link:

http://bit.ly/1qaJPAH

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