LC Series—Understanding the Letter of Credit Process: What Every Exporter Needs to Know
- Thu, February 13, 2020, 10:00
Understanding the Letter of Credit Process: What Every Exporter Needs to Know
|Roles and Responsibilities of Banks in the Payment Process|
|Letter of Credit Documentation: How to Avoid Discrepancies|
Registration Includes: One telephone and web connection at one physical location
US: 10:00am ET
About the Webinar
Collectively, this four-part webinar series provides a comprehensive view on export letters of credit and the best practices that support using them. Join veteran international banker, Chip Thomas, who will provide practical tools, techniques and insight that credit professionals can immediately apply when using letters of credit. Sign up for all four and save 10% on the registration fee.
Topics that will be addressed during this webinar:
- Review the role of Letters of Credit
- Security, payment, financing
- Major problems with Letters of Credit
- Why these problems occur and what actions to take
- The 5-step Letter of Credit “process” explained
- Correspondent banking
- Payment structure
- LC structure
- Why exporters must negotiate LC terms and conditions with buyers
- Dangers of not embracing the LC process and negotiating from strength
About the Speaker
Richard “Chip” Thomas, General Manager, American Export Training Institute, West Chester, PA
Mr. Thomas’ interest in international affairs and cultures began in high school where he had the opportunity to finish his junior and senior years at a private school in Zimbabwe, Africa. He finished his B.A. from So. Illinois University in 1969, majoring in economics and history, and completed a master’s degree in 1975 from the Thunderbird Graduate School of International Management. After his undergraduate degree, Mr. Thomas spent two and a half years working in Colombia, S.A. with the Peace Corps, followed by another two years in Colombia with the U.S. Information Agency (USIA).
Upon returning to the U.S. and completing his graduate studies, Mr. Thomas entered a 22-year career in international banking, specializing in international trade and finance. This work led to extensive international travel, with a 2-year assignment working and living in Mexico.
During his banking career, Mr. Thomas developed a skill in training and was responsible for International Product and Service Training for Mellon Bank’s customers and employees. Mr. Thomas left banking in early 1995 to pursue his interest in training by helping to establish the American Export Training Institute (AETI), which provides practical training in export finance to corporations and financial institutions throughout the U.S. and Canada. Mr. Thomas is co-author of the Trade Finance Handbook, Thomson, 2005. The book is targeted to small and mid-size companies (SMEs) interested in how to effectively enter the international trade arena.
Mr. Thomas speaks fluent Spanish.
Instructions to join the Webinar will be sent to the main registrant's email address the day before. Remember: Please log-in at least 15 minutes prior to the webinar commencing to ensure ample time for technical assistance if needed.