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LC’s 101 | Basic Fundamentals Track
November 19, 2019 @ 8:00 am - 4:30 pm
This program will be an excellent source of information for those who are new to LC’s and/or wish to brush up on the fundamentals, or are indirectly involved with LC’s and wish to have a better understanding of this longstanding and venerable trade payments instrument.
AM: Basic Commercial LC’s in the morning
* Parties in a LC transaction
* Transaction flow
* Common documents
* Advising versus confirming (basics)
* Charges & who pays them
* Sight versus Time LC’s
* SWIFT – definition and importance
* Role of the freight forwarder
* Expiry issues and collections
* Common discrepancies to avoid
PM: Basic Standby LC’s in the afternoon
* Bid, performance and advance payment
* Financial versus trade related
* Alternative to commercial LC?
* Affects on your company’s credit line
* Standard cost/benchmarking