Discrepancies are responsible for much of the headache and added cost associated with using letters of credit in international trade transactions. These challenges can often make exporters avoid using letters of credit altogether, usually resulting in either highly uncompetitive cash-in-advance demands or extremely risky open account terms in foreign markets.
This seminar will provide practical, step-by-step guidance and tips for minimizing discrepancies in export letters of credit.
The program will start with an overview of the international letter of credit process, including the different types and uses of letters of credit. It will also discuss common letter of credit discrepancies, including "built-in" discrepancies and other red flags that can lead to discrepancies.
The seminar will specifically focus on structuring sales quotes and instructions to ensure clean letter of credit documents, and will provide guidance on different options for handling discrepancies when they do arise.
The program will also feature a panel discussion that will walk participants through a letter of credit case study.
Carla Winfield, Senior Trade Finance Advisor — Silicon Valley Bank
Other speakers TBA