What bankers and traders must know about SBLC

If you are involved in negotiations and transactions in PPP investment projects, international trade (Import & Export), and project finance structures, it’s a must that you understand the use of bank guarantees and standby letters of credit (SBLC as differentiated from LC) as commercial instruments for use in your business transactions.

The International Chamber of Commerce ( ICC), in collaboration with Center for Global Best Practices, will hold a rare special two-day seminar entitled, “Revised ICC Rules on Demand Guarantees and Standby Letters of Credit for Bankers, Investors, Importers, Exporters and Lawyers” to be held on Wednesday & Thursday, Feb. 26 & 27, 2014 at the EDSA Shangri-La Hotel, Mandaluyong City, Philippines.

Learn the ICC’s official interpretation on how to apply the revised rules on bank guarantees and standby letter of credit practice with focus on practical usage of these instruments, new definitions and many examples to highlight right practices vs. contentious errors and common pitfalls to avoid. We will provide you with a step-by-step approach to let you understand everything with clarity and precision.

You will learn about the main differences between standbys and guarantees and how to implement and interpret these ICC rules in your everyday business transactions. For more details on this and all other upcoming best practices seminars including “Mastering the Use of LC for Import and Export” and “Incoterms 2010” check www.cgbp.org or call call Manila lines: (+63 2) 5568968 or 69; telefax (+63 2) 842-7148 or 59; Cebu lines: (+63 32) 512-3106 or 07; Baguio line: (+63 74) 423-5148.

This two-day comprehensive program will feature the Uniform Rules for Forfaiting 800, Uniform Rules on Bank Payment Obligations, and Uniform Rules on Demand Guarantees 758 which are adopted globally by all countries as universal standard rules in business transactions using