This webinar provides an essential understanding of letters of credit, including letter of credit terminology, structure, and function. Whether your bank issues letters of credit, accepts letters of credit or takes liens on letter of credit rights, this program is for you.

Both commercial letters of credit and standby letters of credit will be discussed, including their content, conditions precedent to payment, and the mechanics of their actual presentment for payment. Bankruptcy issues and common problems will also be reviewed.What You'll Learn:What You'll Learn:

• Letter of credit terminology
  
• Function of a letter of credit
  
• Structure of a letter of credit transaction
  
• Commercial letters of credit vs. standby letters of credit
  
• Contents of a letter of credit
  
• Conditions precedent to payment
  
• Presentment for payment
  
• Article 5 of the UCC
  
• The Uniform Customs and Practices (UCP) for documentary credits
  
• Assignment and transfer of letters of credit
  
• Letter of credit rights and liens on letter of credit rights
  
• Letters of credit vs. guarantees
  
• Letter of credit facilities in loan agreements
  
• Letters of credit in bankruptcy
  
• Letters of credit issued by banks that later fail
  
• Common letter of credit problems

You will be sent access to the course directly from the provider. For the live class you will have an additional 30 days of OnDemand Playback included and you will have 1 year of access when purchasing the OnDemand option.