How to Take Advantage of Letters of Credit for Importers-Exporters

Why Should You Attend:

This web session is designed to provide attendees with an end-to-end understanding of the L/C (letter of credit) process. From the beginning of a contractual agreement, through the letter of credit application process and actual negotiation of the L/C, this information-rich webinar will provide techniques that are indispensable to both importers and exporters.

Learning objectives:

• Gain a comprehensive understanding of the letter of credit process
• Learn how to negotiate the terms of both import and export L/Cs
• Be 100% aware of letter of credit documentation requirements
• Be aware of all expenses associated with using letters of credit
• Learn how to avoid amendments and discrepancies
• Understand the role of banks and freight forwarders in the L/C process

Who Will Benefit:

If your organization is engaged in importing and exporting, then your staff should understand Letters of Credit. This webinar is a must-attend event for importer or exporter and those who need to understand the details of how to negotiate, prepare and execute error-free letters of credit.

• Exporters/Importers
• Logistics and trade professionals
• International sales executives
• Customs brokers
• Freight forwarders
• International banking personnel
• Professors and students of global trade
• Customs personnel
• Supply chain managers
• Airlines
• Steamship lines
• Chambers of Commerce
• Foreign trade offices

Douglas Cohen
Senior Manager for Global Trade and Contracts, Worldwide Trade and Legal Associates

For more than 20 years, Douglas Cohen has been at the forefront of international trade and transactions. With senior positions in private law practice, the US Department of Commerce, the European Union, American Airlines, and IATA, he has developed substantial expertise in import-export operations and compliance, intellectual property protection, international transactions, and global negotiations. At present, Mr. Cohen is senior manager - global trade and contracts, at Worldwide Trade and Legal Associates, where he provides strategic and legal advice to organizations seeking to enter or expand foreign markets.

Mr. Cohen has been asked to teach his expertise at universities in the US, Europe, Asia, and the Middle East. He is the author of numerous publications on import-export, global negotiations, intellectual property, and foreign market entry. He has earned a Juris Doctor degree, a Master’s in Business Administration, and a Bachelor’s in International Relations degree.

Topic Background:

Letters of Credit are the primary instruments for assuring payment of goods sold internationally. Letters of Credit are issued under the Uniform Customs and Practice standard and can be negotiated by over 30,000 banks worldwide. Even in today’s free trade-oriented business environment, companies must exercise particular caution when agreeing on payment terms. With financing choices that include cash in advance, open terms, letters of credit (L/C), sight drafts and time drafts, both importers and exporters need to understand the true implications of their credit policies and practices.

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