Letters of Credit

Letters of Credit

A Letter of Credit is one of the most secure payment methods an exporter can use to ensure payment is received for a shipment.   It is typically set up as a contract between an importer’s bank and the exporter, who is designated as the beneficiary.  The steps involved in the Letter of Credit process can be a bit tricky to navigate so this webinar reviews the process carefully and will be valuable to anyone involved in international trade.   

Why this matters to your business

  • Letters of Credit are particularly useful when working with new buyers or new suppliers
  • Letters of Credit reduce payment risks in international transactions

Business challenges you may face without this knowledge

  • Companies that do not use Letters of Credit may face significant credit risks in certain situations
  • Companies that do not use Letters of Credit may be unable to work with some buyers

Who should watch this webinar

  • All companies that are exporting and importing
  • Businesses owners from all sectors who want to better understand how to reduce customer credit risk in new markets

Expert

Leroy Lowe, MBA, PhD, CGBP

Key things you will learn to help your business

  • The ways in which a Letter of Credit can be used to ensure your business gets paid for export shipments
  • The ways in which a Letter of Credit can be used to ensure a payment for an import shipment is not released until the agreed upon terms of the contract have been met
  • How a Letter of Credit is opened and the key benefits and risks of using this form of payment protection.

NASBITE 0.5 CEU's

NASBITE International Certified Global Business Professionals are required to submit 10 Continuing Education Units (CEUs) per year to satisfy their yearly credential re-certification.

This training webinar will be recognized by NASBITE International as 0 CEUs

Details of all training and dates on the Trade Passport website are captured for registered users under User Stats in the main menu and can be submitted to NASBITE International on the NASBITE here

  • Letters of Credit
  • Leroy Lowe, MBA, PhD, CGBP

  • Dr. Leroy Lowe is a former Aerospace Engineering Officer and Project Manager, who began his career in the Canadian Airforce.  He subsequently worked for Sparton of Canada (a division of Michigan-based Sparton Corporation - SPA on the NYSE) as the Director of Business Development, where he had full P&L responsibility for defense and oceanographic sales.  In that role, he recruited, managed and directed a diverse network of agents, distributors and strategic alliance partners in 20+ countries worldwide.  This included key accounts with the US Navy, UK MoD, Canada’s DND, and similar accounts in many other countries.  Subsequently he worked as a senior international business consultant for Mxi Technologies Inc. (now IFS), a company that specializes in MRO software for a wide range of customers.

    Dr Lowe is now a full-time faculty member in International Business at NSCC, and as an active trade consultant, he has delivered many dozens of customized workshops at the World Trade Center in Atlantic Canada and at other World Trade Centers in the United States, Mexico, the Middle East and Southeast Asia.   He is a senior consultant to The Forum for International Trade Training in Canada, the Immediate Past-President of NASBITE International, and a Certified Global Business professional (CGBP). 

    Email: leroy.lowe@nscc.ca

  • https://player.vimeo.com/video/440456180

  • Key things you will learn to help your business

    • The ways in which a Letter of Credit can be used to ensure your business gets paid for export shipments
    • The ways in which a Letter of Credit can be used to ensure a payment for an import shipment is not released until the agreed upon terms of the contract have been met
    • How a Letter of Credit is opened and the key benefits and risks of using this form of payment protection.
  • 0.5
  • 14/08/2020

Expert

Leroy Lowe, MBA, PhD, CGBP

Dr. Leroy Lowe is a former Aerospace Engineering Officer and Project Manager, who began his career in the Canadian Airforce.  He subsequently worked for Sparton of Canada (a division of Michigan-based Sparton Corporation - SPA on the NYSE) as the Director of Business Development, where he had full P&L responsibility for defense and oceanographic sales.  In that role, he recruited, managed and directed a diverse network of agents, distributors and strategic alliance partners in 20+ countries worldwide.  This included key accounts with the US Navy, UK MoD, Canada’s DND, and similar accounts in many other countries.  Subsequently he worked as a senior international business consultant for Mxi Technologies Inc. (now IFS), a company that specializes in MRO software for a wide range of customers.

Dr Lowe is now a full-time faculty member in International Business at NSCC, and as an active trade consultant, he has delivered many dozens of customized workshops at the World Trade Center in Atlantic Canada and at other World Trade Centers in the United States, Mexico, the Middle East and Southeast Asia.   He is a senior consultant to The Forum for International Trade Training in Canada, the Immediate Past-President of NASBITE International, and a Certified Global Business professional (CGBP). 

Email: leroy.lowe@nscc.ca



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    Comments

  1. Beatriz Ramirez
    16 February, 2021

    Good information.

    Reply

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