Learn how to use LC in import, export transactions

The Center for Global Best Practices is holding a two-day seminar titled “Best Practices In Letters of Credit (LC)” on Oct. 12 and 13, 2017 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.

With the expected increase in global trade with the advent of the ASEAN integration, many more businesses want to learn the import and export business and how to use LC payment instrument for safe trade transactions.

In this seminar, 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.

This special program will present easy-to-understand case studies and samples to highlight best practices pointers including topics such as cost saving areas in LC operations, 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 (in case of trade disputes) and those interested in fully understanding how LCs work.

CGBP will bring in Singapore-based expert Victor Tan, an authority in the field of trade. He has 15 years of banking experience in Europe covering areas of international trade finance, remittances, guarantees, and import and export. He has worked with various international banks such as Standard Chartered Bank, Amsterdam-Rotterdam Bank, Bangkok Bank, Royal Trust Merchant Bank and Barclays Bank, the last of which he served as deputy head of the trade finance department. He conducts highly specialized training programs for clients in Jakarta, Bangkok and Singapore.

Interested participants may avail of the early payment discount savings and group discounts for attendees of three or more. It is a limited-seats-only event and preregistration is required.

For details and a complete list of seminars, log on to www.cgbp.org or call (+63 2) 842-7148 or 59.