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.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
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
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Credit
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on May 7, 2021.
Call 1-866-352-9540 for further credit information.
- CA MCLE 1.0
- Lorman Education Services is a State Bar of California approved MCLE sponsor and this course qualifies for 1.0 CLE hours of participatory credit.
To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Credit
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Carter H. Klein
Jenner & Block LLP
- Of Counsel at Jenner & Block LLP's Chicago office where he has practiced for 47 years
- Practice concentrates on letters of credit, payments, collateral issues, and sales of assets
- ABA UCC Liaison to the Permanent Editorial Board of the Uniform Commercial Code
- Former Chair of ABA’s Letter of Credit Subcommittee and Payments Subcommittee
- Co-wrote three books on the Uniform Commercial Code for West Publications
- Letter of Credit Attorney of the Year by the Institute of International Banking Law & Practice
- Can be contacted at 312-923-2950 or [email protected]
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
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