The Cutting Edge of Medical Technology Content, Community & Collaboration
Time: October 14, 2015 from 10am to 11:30am
Location: Online
Street: 161 Mission Falls Lane, Suite 216
City/Town: Fremont
Website or Map: http://bit.ly/1hYgki0
Phone: 18004479407
Event Type: webinar
Organized By: Adam Fleming
Latest Activity: Sep 18, 2015
This teleconference will walk you through the steps in the life of a letter of credit, identifying pitfalls along the way. The teleconference will review and illustrate fundamental principles using real-life examples.
Our presenter will explain how these principles apply to both commercial and standby letters of credit and how these two types differ. In particular, you'll learn why letters of credit might not get paid. Along the way, you will learn about standard and silent confirmation and how to get paid in hours instead of weeks.
Why should you Attend:
Letters of credit used in export sales (commercial L/Cs) are quite different from those credit managers are accustomed to using in domestic sales (standby L/Cs). The biggest difference is that export L/Cs are intended to be drawn on and thereby serve as the means of payment for goods shipped. The "rub" is that they tend to call for more documents, many of which are prepared by third parties. Export L/Cs are designed to serve as a reliable means of credit assurance and also an efficient means of payment. Yet 75% of the time the documents are noncompliant and it can take 3 to 6 weeks to get paid on a "sight" L/C.
This session will provide participants with a detailed review of the mechanics of export L/Cs and how they are structured to assure fast payment. The discussion will then focus on the points at which the process tends to break down. Participants will learn how to get paid in one or two days, even when documents are discrepant, how to avoid discrepancies (and non-payment), and how and when to use "silent confirmations."
Areas Covered in the Session:
Speaker Profile:
Contact Detail:
NetZealous - Compliance4All,
161 Mission Falls Lane, Suite 216,
Fremont, CA 94539, USA.
Phone: +1-800-447-9407
Email: support@compliance4All.com
http://www.compliance4all.com/
Event Link : http://bit.ly/1hYgki0
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