Professional Course

Standby Letter of Credit: What You Need to Know

1 day
1 day
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Course description

Standby Letter of Credit: What You Need to Know

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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Who should attend?

This live webinar is designed for

  • attorneys
  • presidents
  • vice presidents
  • branch managers
  • loan officers
  • loan department personnel
  • credit and collection managers
  • controllers
  • business executives
  • accountants and real estate professionals.

Training content

  • 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

Certification / Credits

Learning Objectives

  • You will be able to describe the advantages and disadvantages of the SBLC.
  • You will be able to recognize SWIFT changes.
  • You will be able to discuss potentially troublesome SBLC situations.
  • You will be able to explain how beneficiaries of LCs fare in a bankruptcy of the applicant.

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Lorman Education Services
Lorman Education Services
2510 Alpine Road
54702 Eau Claire Wisconsin

Lorman Education Services - Live and On-Demand Courses

Lorman Education Services is a leading provider of online professional development and corporate training for organizations and individual professionals. For more than 30 years, Lorman has delivered relevant, high-quality, professional-level courses that cover a broad range of business and technical...

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