Using Letters of Credit for Trade Transaction Payments
Webinar: 1 CCS Credit
Letters of credit are commonly used as a payment mechanism for international trade transactions. This webinar offers Import and export professionals, customs brokers, freight forwarders, and others an introduction to letters of credit and how they work to ensure payment.
- using a letter of credit as a method of payment
- advantages and disadvantages of using letters of credit from importing and exporting perspectives
- the role of banks
- confirming versus advising banks
- import/export documentary requirements
- bank review
- antiboycott language
- other payment options, including documentary collections, cash in advance, and open account
David Craven is a member of Sandler, Travis & Rosenberg, resident in the Chicago office. Mr. Craven is an accomplished authority on doing business in Asia, Europe, and Africa and is experienced in helping clients explore opportunities to stay competitive in the global economy. An A-V rated attorney by Martindale-Hubbell, he has practiced international trade and customs law for more than 30 years and is fluent in the nuances of the numerous government agencies responsible for administering U.S. trade and tariff laws.