Learn how to use letters of credit

The Center for Global Best Practices will hold a two-day seminar titled, “Best Practices In Letters of Credit (LC)” on Oct. 12 and 13 at the EDSA Shangri-La Hotel, Mandaluyong City.

While it is one of the safest and very reliable commercial payment instrument and most commonly used in international transactions, businesses should never leave the success of one’s import and export transactions to chance.

The expected increase in global trade may prompt more businesses to learn the import and export business and how to use LC payment instrument for safe trade transactions.

The two-day seminar will provide a comprehensive guide on LC transactions and operations. Attendees will learn practical steps and valuable tips in issuing proper LCs and how they work, what to do to avoid pitfalls, and actions to take in cases of discrepancies.

The program will also cover new regulations (and the application of UCP 600) involving letters of credit.

The program will present easyto-understand case studies and samples to highlight best practices pointers including topics such as cost saving areas in LC operations that your banker will never tell you, overcoming delays in payment in LC transactions, liabilities of banks, remedies, and many more. The seminar is applicable to manufacturers, importers, exporters, traders, entrepreneurs, bankers, insurers, transporters of goods, CFOs, company treasurers, lawyers (incase of trade disputes) and those interested in fully understanding how LCs work.

For details and a complete list of seminars including How to Use Incoterms in Business, Understanding Contract Law for Non-Lawyers, Best Practices on How To Detect Business Fraud and more, log on to www.cgbp.

org or call (02) 842-7148 or 59.