LC Series—Choosing the Right INCOTERMS for Letters of Credit: Why International Commercial Terms Matter and the Role They Play
- Thu, May 14, 2020, 10:00
|Letter of Credit Documentation: How to Avoid Discrepancies||Choosing the Right INCOTERMS for Letters of Credit: Why International Commercial Terms Matter and the Role They Play|
Registration Includes: One telephone and web connection at one physical location
US: 10:00am ET
About the Webinar
Join veteran international banker Chip Thomas, who will discuss how INCOTERMS impact the financial side of export transactions and common misconceptions as well as define the 11 INCOTERMS, explain which INCOTERMS benefit exporters and which benefit importers, and Identify which INCOTERMS are best to use in letters of credit.
Topics that will be addressed during this webinar:
- Their role in export logistics
- Why INCOTERMS are important
- Establish “control” over product shipments
- Defining the 11 INCOTERMS
- Establish clear understanding of each term
- Their impact on the financial side of export transactions
- Which INCOTERMS are best for exporters?
- Control, security, payment
- Which INCOTERMS are best for Importers?
- Which INCOTERMS are best to use in Letters of Credit?
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.