Description
Learn the best practices when dealing with an SBLC and how to avoid common problems that may arise.This topic will address when a standby letter of credit is the right choice and best practices when using them. The information will discuss what issues to spot and how to avoid common problems. This topic will also provide information on how to draft a better standby letter of credit from the standpoint of the issuer, the applicant, and the beneficiary. The material will look at prevention or reduced litigation exposure in letter of credit transactions and the difference between confirmation and advice. After reviewing this information, you will be knowledgeable in how to get a foreign letter of credit confirmed and what laws, rules, and jurisdiction should govern a standby letter of credit.
Date: 2021-05-07 Start Time: End Time:
Learning Objectives
Uses of an SBLC
What Are Their Advantages and Disadvantages?
Alternatives to SBLCs and How They Compare
How LCs Are Priced and Secured
How Beneficiaries of LCs Fare in a Bankruptcy of the Applicant
Letter of Credit Application and Reimbursement Agreements
Potentially Troublesome Letter of Credit Situations
Confirmations vs. Advices
What Regimes to Choose for SBLCs: ISP or UCP?
Unique and Counterintuitive Features of LC Law and Practice
Auto-Extend Clauses and Outside Expiration Dates
Non-Documentary Draw Triggers or Conditions
Draw Triggers Based on Nonrenewal and Issuer Credit Downgrade
Enjoining a Draw on a Letter of Credit
Advance Payment Guarantee SBLCs
Counter-Guarantee SBLCs • How They Work, and Issues They Present
Force Majeure, Impossibility of Performance and Fraud
Common Drafting Mistakes
Foreign LCs and Bank Guarantees
AML, OFAC and Regulatory Concerns
Regulatory Capital Guidelines Applicable to SBLCs
What Is a SWIFT Format Letter of Credit?
SWIFT Changes
How to Evaluate the Credit of the Issuer and Deal With Issuer Credit Downgrades
CLE (Please check the Detailed Credit Information page for states that have already been approved) ,Additional credit may be available upon request. Contact Lorman at 866-352-9540 for further information.
Carter H. Klein-Jenner & Block LLP
