Advanced Letters of Credit
- Thu, February 2, 2017, 11:00 - 11:00
Cost: Members: $95
Receive a 50% discount on Basic Letters of Credit when you register for both webinars
Registration Includes: One telephone and web connection at one physical location
US: 11AM ET, 8AM PT, GMT -05:00
About the Webinar
Commercial letters of credit are an effective payment mechanisms provided they are used properly. Otherwise, they can create headaches and increase the risk of nonpayment. Join Louis Tierno, CDCS, from Fulton Financial Corporation, for a webinar that goes beyond the basics of using letters of credit to strengthen how they work your company. Learn how a commercial letter of credit works and gain knowledge to increase your ability and confidence in the mechanics of using them.
This webinar will cover:
- Revocable vs. Irrevocable: What does it mean?
- The role of the banks in the letter of credit process.
- The value of letter of credit confirmations.
- Can you receive the benefit of confirmation if the letter of credit is not confirmed?
- Banker’s Acceptances and Discounting.
- Time vs. Deferred Payments.
- How to avoid discrepancies.
- Transfer vs. Assignment of Proceeds
This webinar is intended for credit professionals who have a basic working knowledge of letter of credit basics, or attend the Basic Letters of Credit webinar on Wed., Feb. 1.
About the Speaker
Louis Tierno joined Fulton’s International Group in 2005 after spending 23 years in international banking with other financial institutions. His experience includes work with letters of credit, banker’s acceptances, document preparation services, bank-to-bank Reimbursements, Small Business Association (SBA) and the Export-Import Bank of the United States export financing and related trade finance products. In 2004, he earned his certification as a documentary credit specialist (CDCS) from the Bankers Association for Finance and Trade. He also has completed advanced courses on international credit and trade finance.
Lou’s current responsibilities at Fulton Financial Corporation consist of operations and product manager as well as technical advisor. Lou is the primary contact within the organization for trade products and frequently participates in sales calls to discuss potential opportunities and provide expert advice to small- and medium-size enterprises on Import, export and standby letters of credit, documentary collections, direct financing, SBA and trade finance lines of credit. Lou also frequently lectures on these subjects at various banking industry organizations, and Chambers of Commerce. In addition, he holds a seat on the Trade Finance Advisory Council under the Department of Commerce and participates in thought leadership discussions on the evolution of trade products.
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.
Participants earn 1 Education and 1 Participation Point towards the International Certified Credit Executive (ICCE) certification/recertification.