Guarantees and Standby Letters of Credit Masterclass - Become familiar with all main aspects of guarantee (standby) process

Mike Morley

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Why should you attend?

If you sell goods and/or services abroad, or even domestically, you need to explore the possibility of using standby letters of credit (SLOC or SMOC). Without understanding the main features of the standby letter of credit (SLOC or SMOC), you may not be as protected as you think. They are time-sensitive and can expire, leaving you unable to use it to get paid.

This presentation will provide the knowledge you need to use as credit extension protection, and is an attractive alternative that is cost-effective and a choice that is easy to convince your client to provide to you.

You will understand the risks involved and what you can do to mitigate those risks.

We will walk you through examples that the presenter has actually lived through in his over 30 years in the credit industry using standby letters of credit.

Description of the topic:

A standby letter of credit (SLOC or SMOC) is a legal document that guarantees a bank's commitment of payment to a seller in case the buyer–or the bank's client–defaults on the agreement.

A standby letter of credit helps facilitate international trade between companies that don't know each other and have different laws and regulations. Although the buyer is certain to receive the goods and the seller certain to receive payment, a SLOC doesn't guarantee the buyer will be happy with the goods.

If you are a lender or potential creditor, a SLOC allows you to have some collateral that allows your client to keep their assets while making them available to you, the seller, in case of default. They are a relatively low-cost financial instrument that can be easy to use, extend, and expand.

Areas Covered in the Session:

·          international best practices in using SLOC’s

·          Getting familiar with the most common situations when a standby letter of credit is used

·          Understanding the risks involved and how to mitigate them

·          Knowing how a SLOC issued

·          Confirming a standby letter of credit

·          Amending a SLOC

·          Terminating a standby letter of credit

·          Extending a SLOC

·          Using “evergreen” clauses

·          Examining Case studies

Who will benefit:

·          Accounting professionals

·          Accounts receivable staff

·          Treasury staff

·          Auditing staff

·          Compliance staff

Webinar Events
Live -Coming soon!

Training CD-DVD

Physical CD-DVD of recorded session will be despatched after 72 hrs on completion of payment

Recorded video

Recorded video session

Speaker: Mike Morley,

A Certified Public Accountant, business author Mike Morley is an entertaining and informative speaker and a recognized authority in the field of finance. Mike offers various training programs, such as IFRS, SOX, and Financial Statement Analysis that focus on providing continuing education opportunities for finance and accounting professionals. Many Fortune 500 companies take advantage of his training programs to bring their staff up to speed so that everyone understands what their responsibilities are. Mike is the author of several books, including: “IFRS Simplified” which provides a jump start for accountants and finance executives who want to quickly and easily get up to date on IFRS. “Sarbanes-Oxley Simplified” which is an easy-to-read explanation of the requirements of the U.S. legislation that makes CEO's & CFO's personally responsible for the accuracy of their company's financial statements. “Financial Statement Analysis Simplified” which translates the accounting language of financial statements into clear, easy-to-understand terms that anyone who needs to make well-informed financial decisions quickly will appreciate

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