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Letters of Credit

Whether your bank issues letters of credit, accepts letters of credit or takes liens on letter of credit rights, this program is for you.

OnDemand
Recorded Tuesday,
March 22nd, 2022
Presented by Robin Russell
2h total length
2.5 CEU Credits
$279.00 or 1 Token

Includes: 30 Days OnDemand Playback, Presenter Materials and Handouts

  • Lending
  • Risk Management/Legal
  • Credit Analyst
  • Customer Service Representative
  • Loan Closer
  • Loan Operations Manager/Specialist

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This webinar provides an essential understanding of letters of credit, including letter of credit terminology, structure and function. Whether your bank issues letters of credit, accepts letters of credit or takes liens on letter of credit rights, this program is for you.

Both commercial letters of credit and standby letters of credit will be discussed, their content, conditions precedent to payment and the mechanics of their actual presentment for payment. Bankruptcy issues and common problems will also be reviewed.

What You'll Learn

  • Letter of credit terminology
  • Function of a letter of credit
  • Structure of a letter of credit transaction
  • Commercial letters of credit vs. standby letters of credit
  • Contents of a letter of credit
  • Conditions precedent to payment
  • Presentment for payment
  • Article 5 of the UCC
  • The Uniform Customs and Practices (UCP) for documentary credits
  • Assignment and transfer of letters of credit
  • Letter of credit rights and liens on letter of credit rights
  • Letters of credit vs. guarantees
  • Letter of credit facilities in loan agreements
  • Letters of credit in bankruptcy
  • Letters of credit issued by banks which later fail
  • Common letter of credit problems

Who Should Attend

Loan officers, operations officers, credit administration personnel and others involved in the letter of credit function

"Excellent webinar; just the right amount of detail for a wide audience." -- Lori Moylan, SVP Chief Credit Admin Officer, Peapack-Gladstone Bank

Robin Russell

Instructor Bio

Robin Russell has practiced law for 35 years and is licensed in Texas, New York, and Massachusetts, and has extensive experience in the energy sector, having been named to Oil and Gas Investor's 25 Influential Women in Energy in 2019. She is a fellow in the American College of Bankruptcy and of the American Law Institute. She combines a depth of experience in bankruptcy restructuring and litigation with financial transactions. She has represented corporate debtors, independent directors, liquidating trustees, bondholders, unsecured creditors' committees, bank groups, private equity funds, landlords, trade creditors, and bidders for estate assets in Chapter 11 and Chapter 7 bankruptcy proceedings. She has also represented banks, institutional lenders, and corporate borrowers in commercial loan transactions and debt restructurings.

Robin is the principal author of Thomson Reuters' Texas Practice Guides for both Creditors' Rights and Financial Transactions and the Texas Bankers Association's Texas Secured Lending Guide, Texas Problem Loan Guide, Texas Real Estate Lending Guide, and Texas Account Documentation Guide. She is a frequent speaker on banking, bankruptcy, and financial restructuring-related topics and has served as a Chapter 7 Trustee. Robin received her LL.M. in Banking Law from Boston University and her J.D. from Baylor University where she was Editor-in-Chief of the Baylor Law Review. She clerked for the Texas Supreme Court before beginning her legal career.

Continuing Education Credit Information

Recommended for 2.5 CEU Credit Hours. After attending this webinar, each attendee can receive a Certificate of Attendance for self-reporting of CEU Credits.

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