Learn how to draft letters of credit and avoid problems when drawing upon them for payment.
This presentation will walk you through the steps in the life of a letter of credit, identifying pitfalls along the way. The topic will review and illustrate fundamental principles using real-life examples. Our presenter will explain how these principles apply to both commercial and standby letters of credit and how these two types differ. In particular, you'll learn how to draft letters of credit and how to avoid problems when drawing upon them for payment.
Agenda
Faculty
Buddy Baker
Goldman Sachs Bank USA
- More than 45 years of experience in international trade finance
- Internal subject matter expert on letters of credit with Goldman Sachs
- Recognized expert in trade finance and published author
- Frequent presentations for national associations of exporters, importers, bankers, and lawyers
- Actively involved in establishing national and worldwide standard practices for LCs
- U.S. representative to the International Chamber of Commerce Banking Commission
- Member of the Standby and Commercial Letter of Credit Committees of the American Bankers Association
- Member of the Americas Advisory Council of the Institute for International Banking Law and Practice
- Advisory member of the Uniform Commercial Code Article 5 Drafting Committee of the National Conference of Commissioners on Uniform State Laws
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