Complying with the Rules and Regulations Pertaining to Letters of Credit: OFAC, Anti-Boycott, and the USA PATRIOT Act | Webinar

Topic ID: 000000235-web

Start Date: Oct 30, 2015

Start Time: 10 AM PST | 1 PM EST

Name of Event: Complying with the Rules and Regulations Pertaining to Letters of Credit: OFAC, Anti-Boycott, and the USA PATRIOT Act

Details: This 90-minute session will provide an overview and introduction to rules and regulations governing international trade and take an in-depth look at some with broad applicability: the Incoterms 2010, the Uniform Customs and Practice for Documentary Credits (UCP), US sanctions enforced by the Office of Foreign Assets Control (OFAC), Anti-Boycott regulations maintained by the US Department of Commerce, and section 326 of the USA PATRIOT Act (“Know Your Customer”). Exporters, importers, and their bankers must know the rules in order to play the game and avoid losses and penalties.

Areas Covered In The Session:
Export licensing (e.g., the Export Administration Regulations (“EAR”) and International Traffic in Arms Regulations (“ITAR”)).
FX controls.
Sanctions against “enemy” countries (e.g., the Office of Foreign Assets Control and U.N. sanctions).
Antiboycott regulations.
Anti-Money Laundering regulations (e.g., the USA PATRIOT Act).
Anti-corruption regulations (e.g., the Foreign Corrupt Practices Act).
The International Commercial Terms (“Incoterms”).
The U.N. Convention on Contracts for the International Sale of Goods (“CISG”).
The Uniform Customs and Practice for Documentary Credits (“UCP”).
International Standard Banking Practice for the Examination of Documents under Documentary Credits (“ISBP”).
The eUCP.
The International Standby Practices (“ISP98”).
The Uniform Rules for Demand Guarantees.
The Uniform Commercial Code, Article 5.
The Uniform Rules for Collections.

Speaker: Walter (Buddy) Baker, brings more than 30 years of experience in international trade finance to his current position as Vice President and head of Global Trade Solutions Delivery for Fifth Third Bank. Fifth Third is one of the 20 largest banks in the US and provides a full range of risk mitigation and financing products for exporters and importers. Mr. Baker’s professional experience includes earlier stints with Atradius Trade Credit Insurance, ABN AMRO Bank, Bank of America, Wachovia Bank, and The First National Bank of Chicago. He is recognized expert in trade finance and author of numerous magazine articles and the books Users’ Handbook to Documentary Credits under UCP600, Documentary Payments & Short-Term Trade Finance, and The Regulatory Environment of Letters of Credit and Trade Finance. He owns the consulting firm Global Trade Risk Management Strategies, which specializes in educational training, and makes frequent presentations for national associations of exporters, importers, bankers, and lawyers. As a member of the National Letter of Credit Committee of the International Financial Services Association, the Advisory Council of the Institute for International Banking Law and Practice, and the Council for International Standby Practices, he is actively involved in establishing national and worldwide standard practices for LCs. He participated in the most recent revision of the Uniform Customs and Practice for Documentary Credits (referred to as "UCP600"), contributed to the creation of the official ICC guide for examining letter of credit documents, called the International Standard Banking Practices for the Examination of Documents under Documentary Credits, and served on the drafting committees for the International Standby Practices ("ISP98") and Article 5 of the Uniform Commercial Code. He is also on the Board of Directors of the Association of International Credit and Trade Finance Professionals ("ICTF"), a multinational association of export credit managers.

For more details call Complystream at: (+1) 844 498 6361