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DUBAI / WAM
The Dubai Chamber of Commerce and Industry (DCCI) on Thursday hosted a seminar entitled Management of Letter of Credit Operations – the Exporters and Importers Perspective, aimed to bring a new dimension to trade finance by providing a comprehensive overview of obligations and challenges faced by the parties using documentary letters of credit.
Conducted by Vincent O’Brien, a member of the ICC Banking Commission and Chairman of the ICC Market Intelligence Group, the seminar was attended by exporters and importers, sales managers, purchasing managers, forwarders, custom brokers, carriers, credit and compliance professionals, insurers, trade consultants, international bankers and attorneys.
Jehad Kazim, Director of Legal Services Department, Dubai Chamber, stated that with the substantial expansion of international trade in the GCC region, it is increasingly important for businesses to beware of the legal and practical aspects of managing documentary letters of credit for the smooth functioning of their business, especially for those operating in the import-export sector.