BankNewswatch

Letters of Credit

Wednesday, February 15th, 2023 10:00 am - 12:00 pm

A BankWebinars.com Program

Click Here to register for live program $279

Click Here to register for live program and recording $419

This webinar provides an essential understanding of letters of credit, including letter of credit terminology, structure, and function. Whether your bank issues letters of credit, accepts letters of credit or takes liens on letter of credit rights, this program is for you.

Both commercial letters of credit and standby letters of credit will be discussed, including their content, conditions precedent to payment, and the mechanics of their actual presentment for payment. Bankruptcy issues and common problems will also be reviewed.

Topics

  • Letter of credit terminology
  • Function of a letter of credit
  • Structure of a letter of credit transaction
  • Commercial letters of credit vs. standby letters of credit
  • Contents of a letter of credit
  • Conditions precedent to payment
  • Presentment for payment
  • Article 5 of the UCC
  • The Uniform Customs and Practices (UCP) for documentary credits
  • Assignment and transfer of letters of credit
  • Letter of credit rights and liens on letter of credit rights
  • Letters of credit vs. guarantees
  • Letter of credit facilities in loan agreements
  • Letters of credit in bankruptcy
  • Letters of credit issued by banks that later fail
  • Common letter of credit problems

Faculty

Robin Russell

Robin Russell has practiced law for 35 years and is licensed in Texas, New York, and Massachusetts, and has extensive experience in the energy sector, having been named to Oil and Gas Investor's 25 Influential Women in Energy in 2019. She is a fellow in the American College of Bankruptcy and of the American Law Institute. She combines a depth of experience in bankruptcy restructuring and litigation with financial transactions.