Canadian Shipper


CITT webinar to explore Letters of Credit

TORONTO, Ont.–CITT is offering Letters of credit as the subject of its next professional development webinar.

Letters of Credit, a heavily requested topic according to CITT, will run 12:00-1:00 PM EDT on September 16th. Hosted by Sherri Lane, Director of Consulting and Insurance Services, and Charlie Kelly, Vice President, Customer Satisfaction, both at Trade Technologies Inc, this in-depth webinar will equip viewers with a basic understanding of letters of credit before helping you answer the following questions:

  • How do you structure the flow, what are the guiding principles of LCs and how do you use them to mitigate risk?
  • Confirmed Letters of Credit -how does the flow change when you add a fourth party to the structure? What additional risk mitigation steps do you need to take? What are the possible problems with confirming banks and what can you do to solve those problems?
  • What are the rules that govern an International Letter of Credit?
  • How are letters of credit made available, where do you go when you need one?
  • What are the steps to take when adding an advising bank, a nominated bank and a reimbursing bank? Do you validate the bank? What are the rights of a negotiating bank? Is there any negotiation available with recourse?
  • How do you identify discrepancies and how do you resolve those discrepancies?
  • What is SWIFT? The webinar will briefly review and dissect a typical LC in the SWIFT format.
  • How can you save your company money by centralizing collection of letter of credit payments?

Spaces are limited, and are available for $75, or free for CITT-Certified Logistics Professionals and CITT students.

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