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This webinar will cover the principles underlying standby letter of credit form, review the purposes for which standbys are used by bank customers, discuss recommended wording for letters of credit and the legal agreements backing them, and explore the bank capital requirements and other managerial accounting issues.
Participants will learn how to protect their banks from making bad decisions and how to stay out of court and in the good graces of the regulators.
Why Should You Attend
Banks that issue standby letters of credit expose themselves to more than credit risks. It is absolutely necessary for letter of credit issuers to understand the rules, laws, and standard practices governing their obligations and to word their letters of credit and structure the reimbursement agreements backing them properly. Failure to do so can result in a bank being obligated to pay and yet having no right to be reimbursed for such payment.
Various banking regulations require banks to recognize, record, track, and report their exposures. But with a proper understanding of how letters of credit work and standard practices, bankers can provide better guidance to their customers and be prepared to offer letters of credit as a useful solution to a variety of problems bank customers encounter.
Areas Covered in this Webinar
Who Will Benefit
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