Managing the Standby Letter of Credit Process (for Bankers) - By Compliance Global Inc.
About This Event
Overview
This webinar will cover the principles underlying standby letter of credit form, review the purposes for which standbys are used by bank customers, discuss recommended wording for letters of credit and the legal agreements backing them, and explore the bank capital requirements and other managerial accounting issues.
Participants will learn how to protect their banks from making bad decisions and how to stay out of court and in the good graces of the regulators.
Why Should You Attend
Banks that issue standby letters of credit expose themselves to more than credit risks. It is absolutely necessary for letter of credit issuers to understand the rules, laws, and standard practices governing their obligations and to word their letters of credit and structure the reimbursement agreements backing them properly. Failure to do so can result in a bank being obligated to pay and yet having no right to be reimbursed for such payment.
Various banking regulations require banks to recognize, record, track, and report their exposures. But with a proper understanding of how letters of credit work and standard practices, bankers can provide better guidance to their customers and be prepared to offer letters of credit as a useful solution to a variety of problems bank customers encounter.
Areas Covered in this Webinar
Principles of letters of credit
Types and uses of standby letters of credit
Recommended wording for standbys
Letter of credit application forms and reimbursement agreements
Accounting and regulatory reporting requirements
Laws, rules, and regulations to know and understand
Potential problems to avoid or be prepared for
Learning Objectives
Explore the range of uses for standby letters of credit
Review recommended language for letters of credit and understand the risks of using poor wording
Learn what laws, rules, and banking regulations apply to letters of credit, including accounting, reporting, and regulatory capital requirements
Understand the liabilities and things that can go wrong in letter of credit transactions
Who Will Benefit
Banking Professionals
Supply Chain Professionals
Trade Finance Professionals
Risk Insurance Professionals
Credit and collection managers
Level:
Beginner
For more detail please click on this below link:
https://complianceglobal.us/product/700226
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