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Course Details

Standby Letter Of Credit: What You Need To Know

Webinar: ID# 1023618
Recorded CD
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About This Course:
After this webinar, you should be able to evaluate whether using a SBLC is feasible and appropriate as opposed to some other form of credit assurance. You will learn what terms and problems should be requested and avoided, how to spot SBLC issues and problems and deal with them, when to ask for a confirmation or advice, how to prepare for and properly draw on a letter of credit, how to use certificates to protect the applicant, and what to avoid in letter of credit practice.

The benefits of this course include what to look for in SBLCs, what the alternatives are, who to go to for help and issues to address in drafting and drawing on a letter of credit. And, if you are a banker that handles letters of credit, the common problem areas and exposures, and how to avoid or minimize them.

The materials provided with the content alone should provide a guide for issue spotting and resources for where to look for further help.

AGENDA

  • What an SBLC Can Be Used for
  • What Are Their Advantages?
  • What Are Their Disadvantages?
  • Alternatives to SBLCs and How They Compare to SBLCs
  • 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
  • Enjoining a Draw on a Letter of Credit
  • Advance Payment Guarantee SBLCs
  • Counterguarantee SBLCs – How They Work and Issues They Present
  • Force Majeure, Impossibility of Performance and Fraud
  • Common Drafting Mistakes
  • Foreign LCs and EU 'Bail-in' Language
  • Regulatory Capital Guidelines Applicable to SBLCs
  • What Is a Swift Format Letter of Credit?
  • How to Evaluate the Credit of the Issuer and Deal With Issuer Credit Downgrades
About The Presenter

Carter H. Klein
  • Partner in Jenner & Block LLP's Chicago office
  • Concentrates practice on Uniform Commercial Code work, secured and unsecured lending, asset sales and purchases, trade finance, outsourcing, payments, financial services and regulation, and credit enhancements and workouts; corporations, businesses, banks and other financial institutions seek his counsel on funds transfers, sales and acquisitions, and financial and international transactions work
  • Extensive experience with Article 5 of the Uniform Commercial Code – Letters of Credit
  • Frequent lecturer on letters of credit
  • J.D. degree, Order of the Coif, First in Class, University of Illinois College of Law; B.A. degree, with the highest distinction, University of Illinois at Urbana-Champagne
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Standby Letter Of Credit: What You Need To Know
Available on CD format
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