Understanding Letters of Credit

Terri D. Thomas


Terri D. Thomas is Senior VP and Legal Department Director for the Kansas Bankers Association. Prior to this, she was with "Bankers Choice," a financial consulting firm. Before this, Terri was employed in the financial industry for over twenty-three years in various capacities. Most notably, she served for fourteen years as in-house legal counsel and trust officer for Bank of America and its Kansas predecessors. Receiving her Bachelor of Arts degree from Kansas State University in 1985, Terri continued her education at Washburn University School of Law and obtained her Juris Doctor in 1988. Presently, she serves as an adjunct instructor at Washburn University School of Law and the University of Kansas School of Law and is a frequent seminar presenter for financial associations.
Wednesday, December 10th, 2008
10:00 am - 12:00 pm CT

The Institute of Certified BankersTM(ICB) is dedicated to promoting the highest standards of performance and ethics within the financial services industry. This webinar has been approved for 2.5 CCSR, CLBB, & CPB credits.

This webcast seminar explains letters of credit including the parties involved and their liabilities. Also, this webcast seminar will discuss the rules regarding letters of credit that were implemented by the Uniform Customs and Practices for Documentary Credits (2007 Revision) (the "UCP 600") on July 1, 2007. Financial institutions that issue or accept letters of credit will find this webcast seminar useful.

Covered Topics:

  • Overview of parties involved in a letter of credit transaction
  • Responsibilities and liabilities associated with letters of credit
  • Comparison of commercial letters of credit verses standby letters of credit
  • Review the new UCP 600 and compare it to the old UCP 500

Who Should Attend?

This webcast seminar will be useful to loan officers, operations officers, credit administration personnel and others involved in the letter of credit function.
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