LC Series—Understanding the Letter of Credit Process: What Every Exporter Needs to Know
- Wed, September 15, 2021, 11:00
Unlimited Webinar Purchasers will be able to participate as a part of their package.
Understanding the Letter of Credit Process: What Every Exporter Needs to Know
|Choosing the Right INCOTERMS for Letters of Credit: Why International Commercial Terms Matter and the Role They Play|
|Letter of Credit Documentation: How to Avoid Discrepancies|
|How to Use Letters of Credit as Financing Tools||Putting It All Together for Letters of Credit Success|
Registration Includes: One telephone and web connection at one physical location
US: 11:00am ET
About the Webinar
This six-part series, ideal for all international credit professionals, provides a comprehensive overview of export letters of credit. Veteran international banker, Chip Thomas, will provide you with an in-depth understanding of these valuable trade finance tools and the best practices, tools, and techniques required to use them with your customers.
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 Five-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
During his banking career, Chip Thomas developed a skill in training and was responsible for international product and service training for Mellon Bank’s customers and employees. He 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. Chip is co-author of the Trade Finance Handbook, Thomson, 2005. The book is targeted to small and mid-size companies interested in how to effectively enter the international trade arena.
Chip’s 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, Chip 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, he entered a 22-year career in international banking, specializing in international trade and finance. This work led to extensive international travel, with a two-year assignment working and living in Mexico. Chip 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.