LC Series- Understanding the Letter of Credit Process: What Every Exporter Needs to Know
Recorded On: 09/15/2021
This on-demand webinar is available for 14 days after purchase.
Topics that will be addressed during this webinar:
- Review The Role Of Letters Of Credit
- Security, Payment, Financing
- Major Problems With Letters Of Credit
- Why These Problems Occur And What Actions To Take
- The Five-Step Letter Of Credit “Process” Explained
- Correspondent Banking
- Payment Structure
- LC Structure
- Why Exporters Must Negotiate LC Terms And Conditions With Buyers
- Dangers Of Not Embracing The LC Process And Negotiating From Strength
About the Speaker
Richard “Chip” Thomas, General Manager, American Export Training Institute, West Chester, PA
During his banking career, Chip Thomas developed a skill in training and was responsible for international product and service training for Mellon Bank’s customers and employees. He left banking in early 1995 to pursue his interest in training by helping to establish the American Export Training Institute (AETI), which provides practical training in export finance to corporations and financial institutions throughout the U.S. and Canada. Chip is co-author of the Trade Finance Handbook, Thomson, 2005. The book is targeted to small and mid-size companies interested in how to effectively enter the international trade arena.
Chip’s interest in international affairs and cultures began in high school where he had the opportunity to finish his junior and senior years at a private school in Zimbabwe, Africa. He finished his B.A. from So. Illinois University in 1969, majoring in economics and history, and completed a master’s degree in 1975 from the Thunderbird Graduate School of International Management. After his undergraduate degree, Chip spent two and a half years working in Colombia, S.A., with the Peace Corps, followed by another two years in Colombia with the U.S. Information Agency (USIA).
Upon returning to the U.S. and completing his graduate studies, he entered a 22-year career in international banking, specializing in international trade and finance. This work led to extensive international travel, with a two-year assignment working and living in Mexico. Chip speaks fluent Spanish.