International Payments

On July 28th, 30 Friends of International Trade members met to learn about International Payment methods. The attendees learned from global trade finance experts. Cindy Flores (Bank of America) presented about the various types of Letters of Credit, process and mechanics for using Letters of Credit, and costs for using Letters of Credit. Chuck Youngerman (Regions) spoke about the concept, characteristics, and cost of Documentary Collections. Both bankers spoke about Open Account payment terms and the future of the EXIM Bank.