Understanding Letters of Credit

This webcast seminar explains letters of credit including the parties involved and their liabilities. Also, this webcast seminar will discuss the rules regarding letters of credit that were implemented by the Uniform Customs and Practices for Documentary Credits (2007 Revision) (the "UCP 600") on July 1, 2007. Financial institutions that issue or accept letters of credit will find this webcast seminar useful.

Covered Topics:

  • Overview of parties involved in a letter of credit transaction
  • Responsibilities and liabilities associated with letters of credit
  • Comparison of commercial letters of credit verses standby letters of credit
  • Review the UCP 600 and compare it to the old UCP 500

Who Should Attend?

This webcast seminar will be useful to loan officers, operations officers, credit administration personnel and others involved in the letter of credit function.