ComplianceOnline

Standby Letters of Credit (for Credit Managers)

Instructor: Buddy Baker
Product ID: 702366
  • Duration: 90 Min

recorded version

$249.00
1x Person - Unlimited viewing for 6 Months
(For multiple locations contact Customer Care)
Recorded Link and Ref. material will be available in My CO Section
Last Recorded Date: Nov-2016

Training CD / USB Drive

$349.00
One CD/USB is for usage in one location only.
(For multiple locations contact Customer Care)
CD/USB and Ref. material will be shipped within 15 business days

Customer Care

Fax: +1-650-565-8542

Email: customercare@complianceonline.com

Read Frequently Asked Questions

This 90-minute webinar will take an in-depth look at how standby letters of credit work and the reasons they sometimes don’t. Participants will learn how to protect themselves against non-payment.

Why Should You Attend:

Many people think of standby letters of credit as nearly equivalent to cash. What they don’t realize is that many letters of credit don’t get paid when called upon. Most often this is due to misunderstanding how standbys work and then failing to present the documents correctly; indeed, occasionally it is not even possible to present the documents that are called for. Sometimes it is because the bank that issued the standby is ordered not to pay by a court either because the customer has gone bankrupt and payment is deemed a preference (exactly what you thought the standby was protecting you against) or because the customer claims you have no right to the payment and has managed to get an injunction. And sometimes it is because the bank that issued the standby has been declared insolvent and the regulators (e.g., the FDIC) have repudiated the standby.

This session will take an in-depth look at how standby letters of credit work and the reasons they sometimes don’t. Participants will learn how to protect themselves against non-payment.

Areas Covered in the Webinar:

  • Mechanics and Principles of Letters of Credit
  • Confirmed Letters of Credit
  • What Is a Standby Letter of Credit?
  • Uses for Standby L/Cs
  • Competing Rules Governing Standby L/Cs: Which to Use
  • Things That Go Wrong and How to Avoid Them
  • Tips for Using Standby L/Cs Better

Who Will Benefit:

  • Attorneys
  • Credit and collection managers
  • Presidents
  • Vice presidents
  • Business owners
  • Managers
  • Insurance professionals
  • Lending professionals
  • Accountants
  • Bankers
Instructor Profile:
Buddy Baker

Buddy Baker
Managing Director, Global Trade Risk Management Strategies

Walter (Buddy) Baker, has over 30 years of experience in international trade finance. In May 2009 he joined Fifth Third Bank where he heads their Global Trade Solutions Delivery team. Fifth Third is one of the 20 largest banks in the US and provides a full range of risk mitigation and financing products for exporters and importers. Prior to Fifth Third, Buddy worked for Atradius Trade Credit Insurance, ABN AMRO Bank, Bank of America, Wachovia Bank, and The First National Bank of Chicago.

Buddy is a recognized expert in trade finance and author of numerous magazine articles and the books Users’ Handbook to Documentary Credits under UCP600, Documentary Payments & Short-Term Trade Finance, and The Regulatory Environment of Letters of Credit and Trade Finance. He owns the consulting firm Global Trade Risk Management Strategies, which specializes in educational training, and makes frequent presentations for national associations of exporters, importers, bankers and lawyers. Mr. Baker serves as a member-at-large of the National Letter of Credit Committee of the International Financial Services Association and is actively involved in establishing national and worldwide standard practices for LCs, such as the recent revision of the Uniform Customs and Practice for Documentary Credits (referred to as UCP600), the official ICC guide for examining letter of credit documents, called the International Standard Banking Practices for the Examination of Documents under Documentary Credits, the eUCP supplement to the UCP dealing with electronic documents, the International Standby Practices, and Article 5 of the Uniform Commercial Code. He acts as an advisor to the Institute for International Banking Law and Practice and also serves on the Board of Directors of the Association of International Credit and Trade Finance Professionals (ICTF), a multinational association of export credit managers.

Buddy earned his undergraduate degree at Yale University and his MBA at Northwestern.

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Refund Policy

Registrants may cancel up to two working days prior to the course start date and will receive a letter of credit to be used towards a future course up to one year from date of issuance. ComplianceOnline would process/provide refund if the Live Webinar has been cancelled. The attendee could choose between the recorded version of the webinar or refund for any cancelled webinar. Refunds will not be given to participants who do not show up for the webinar. On-Demand Recordings can be requested in exchange.

Webinar may be cancelled due to lack of enrolment or unavoidable factors. Registrants will be notified 24hours in advance if a cancellation occurs. Substitutions can happen any time.

If you have any concern about the content of the webinar and not satisfied please contact us at below email or by call mentioning your feedback for resolution of the matter.

We respect feedback/opinions of our customers which enables us to improve our products and services. To contact us please email customercare@complianceonline.com call +1-888-717-2436 (Toll Free).

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