Documentary Collections and Letters of Credit

September 15 and 17, 2009
11:00am ET
Duration – 2 days – 60 minutes per day
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Summary

Webinar at a glance:
With the current economic conditions, more companies are moving away from open account for their international transactions, and back to documentary collection and letter of credit payment terms. Discover how documentary collections (Cash Against Documents, Sight Drafts, Time Drafts) work and why they are an important step in the international payment terms scheme. Also, learn the basics of a Letter of Credit, why they are still an important means of payment in today’s world, and how they are successfully used in international trade.

DAY 1 (60 minutes) DAY 2 (60 minutes)

Topics that will be covered

  • Learn the step by step process of Documentary Collections
  • Discover what documents control the payment in a Documentary Collection
  • Find out when and when not to use Documentary Collections
  • Uncover the meaning of “Direct” or “Clean” Collections
  • Understand what rules govern Documentary Collections
  • Learn the many reasons for Letters of Credit and why they are still used in international trade
  • Find out how the Letter of Credit process works
  • Discover the security of a payment under a Letter of Credit
  • Uncover the different types of Credits (including Standby Credits, Transferable Credits, Revolving Credits, etc.)
  • Discern how a Letter of Credit can help mitigate risks within the transaction
  • Learn how a “Confirmed” Credit can help secure your payment
  • Understand the parties involved in the Letter of Credit transaction
  • Discover what issues are most important with a Letter of Credit
  • Find out the standard “conditions” of every Letter of Credit
  • Determine how and when amendments to the Credit are necessary

Instructor

Laura Pedersen, CDCS, CICP
Global Banking Officer for First National Bank of Omaha

Laura Pedersen, Global Banking Officer for First National Bank of Omaha, has over 29 years in the international arena, holding a CDCS (Certified Documentary Credit Specialist) certification and a CICP (Certified International Credit Professional) certification.  Laura attended the University of Nebraska, and for over 18 years managed the international department for a large manufacturing company where she oversaw international credit and collections, international shipping and documentation, international order entry and customer service.  With Laura’s extensive background in all aspects of international trade, Laura has been working with companies for over ten years helping them facilitate their international transactions.  

Laura is currently a member of the FCIB Advisory Council.  She is a past president and current board member of MITA (the Midwest International Trade Association), and as a Junior Achievement volunteer, Laura teaches classes on international business to many public and parochial school students.  Laura regularly presents seminars and workshops on Letters of Credit, Incoterms, and Export Documentation and Procedures.  Laura also published a quarterly newsletter relating to international topics.

Registration Fees

FCIB Member: Non-Member:
$195
(total for both sessions) 		$295
(total for both sessions)

Registration Fees Include:

  • One telephone and web connection at one physical location
  • Unlimited number of participants from the same company at the same physical location (all participants must be registered to receive the Certificate of Attendance)

Cancellation and Refund Policy

Registration fees, less a $50 processing fee will be refunded for written cancellations received 7 days before the program start date. No refunds for cancellations within 7 days of the program start date. Substitutions are permitted.

Certificate of Attendance

Participants who attend both webinar sessions on September 15 and 17 will receive a Certificate of Attendance.

Earn CICP Points for Participating

CICP designation holders receive 1 CICP Point for participation in the FCIB Webinar (2 consecutive webinar sessions).