How To Get Paid in International Transactions: The Ins and Outs of Letters of Credit

Why Should You Attend:

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

If your organization is engaged in importing and exporting, then your staff should understand Letters of Credit.

In recognition of the challenges associated with the execution of international payment terms, this webinar will provide both importers and exporters with the insight necessary to make well-informed credit decisions. Using a combination of easy-to-understand explanations and real-life scenarios, this program is ideal for credit managers, international sales people, logisticians and order management personnel.

Areas Covered in the Webinar:

• 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:

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

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

For more than 25 years, Mr. Douglas Cohen has been at the forefront of international trade and transactions. With senior positions in private consultancy, the US Department of Commerce, the European Union, American Airlines, and IATA, he has developed substantial expertise in import-export operations and compliance. At present, he is Director General, Global Trade and Transactions, at Worldwide Trade & Legal Associates, where he provides legal and strategic advice to organizations seeking to enter or expand foreign markets whilst mitigating regulatory risk.

Mr. Cohen has been asked to teach his expertise in international trade at universities and corporate seminars in North America, Europe, Asia, and the Middle East. He is currently a faculty member at the Thunderbird School of Global Management.

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