Transferable Letters of Credit for Export Financing
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Course Description:
Companies that export products internationally can use Transferable Documentary Letters of Credit to finance the purchase of goods for shipment. The exporting company (1st beneficiary) of a letter of credit can transfer all or a portion of the credit to a second party or supplier (2nd beneficiary) for the purchase of goods and services. When the supplier ships the goods, the negotiating bank can replace the 2st beneficiarys invoice with the 1st beneficiarys invoice for the full value of the letter of credit.
Why should you Attend?
This webcast will help exporters understand Transferable Letters of Credit and how to use them for financing the purchase goods from a supplier for shipment.
You will learn how to use Transferable Letters of Credit to finance exports and what terms and conditions they must comply with for successful transactions.
Areas Covered:
- What is a Transferable Letter of Credit, UCP Article 38?
- How it is used for export financing?
- What are the terms and conditions of a transferable LC?
- How do I substitute my invoice for the higher amount?
- How do I transfer a LC to a second party supplier?
- What are the benefits of a transferable LC?
- What are the risks of a transferable LC?
- How confidential is the transferable LC?
Who will benefit?
This webinar will provide valuable assistance to all companies that export or import goods and need trade financing for the purchase of all or part of their goods from a second party.
- Export trading companies that need financing
- Import companies that are asked to provide a Transferable Letter of Credit
- Freight Forwarding companies that must prepare negotiable documents for clients
- Bank staff involved with commercial bank trade finance services
Registration Options
Speaker Details
John Dunlop
Global Trade
John W. Dunlop is CEO of InterNetLC.com, LLC. InterNetLC.com provides the eTrade Finance Platform as an open source web service for online eUCP Letter of Credit and trade finance transactions. The company also provides Documentary Letter of Credit Management services to assist exporters and importers in managing the letter of credit process from purchase order to final payment.
Refund Policy
Participants/Registrants for our live events, may cancel up to 72 hours prior to the start of the live session and ComplianceTrain will issue a letter of credit to be used towards any of ComplianceTrain's future events. The letter of credit will be valid for 12 months.
ComplianceTrain will process refund in cases where the event has been cancelled and is not rescheduled within 90 days from the original scheduled date of the webinar. In case if a live webinar is cancelled, participants/registrants may choose between recorded version of the course or a refund. Refunds will not be processed to participants who do not show up for the webinar. A webinar may be cancelled due to unavoidable circumstances, participants will be notified 24 hours before the scheduled start of the event. Contact us via email: admin@ComplianceTrain.com
