Advanced Standby Letters of Credit
Learning Objectives
By the end of this eCourse you will be able to:
Understand the differences between UCP 600, ISP98 and URDG 758 and when to use each.
Recognise how regulations that are specific to one country impact how banks work with banks in other countries.
Discuss the key differences between confirmation of a SBLC and using a SBLC as a counter-guarantee
Describe the potential pitfalls for issuers of SBLCs and recommend approaches that can identify and reduce risks.
Describe ways in which regulations govern what banks must do, may do, and must not do when they issue and pay a standby letter of credit (SBLC)
Explain the key elements that need to be included in every SBLC and those that should be rejected.
Explain how the ISP98 model forms for confirmed LCs differ from how traditional LC confirmations are structured.
Course structure & curriculum
In this lesson, you will learn about the different rules for SBLCs; the UCP600, ISP98, and URDG758. This includes;
- Areas in which UCP600 does not apply to standbys.
- Some of the significant differences among UCP600, ISP98 and URDG758.
- When to use UCP600, ISP98, and URDG758 respectively.
In this lesson, you will learn the laws and regulations that apply to standby letters of credit and how these support and go beyond ICC rules.
You will also learn how regulations that are specific to one country impact how banks work with banks in other countries.
In this lesson, you will learn more about the ISP98, including;
- The rules in ISP98 that are specific to standby practice and are contrary to rules in UCP 600.
- The practices captured in ISP98 that differ from practices adopted by URDG 758.
- Some practices common to both standby and commercial letters of credit that ISP98 captures but UCP 600 does not.
In this lesson, you will learn about the ISP98 model forms and how using the ISP98 model forms for confirmed letters of credit differs from how traditional letters of credit confirmations are structured.
In this lesson, you will learn the common problems encountered by bankers who issue standby letters of credit and approaches that can identify and reduce risks and possibly provide alternative solutions.
In this section, we will take a look at 10 sample case studies that show how simple solutions can remedy problems often seen in this sector.
This section will test your knowledge on what you have learned so far. Please note, this is not an exam.
Advanced Standby Letters of Credit
FAQs
Answers to your most commonly asked questions.
This course forms part of the curriculum for the Certified Trade Finance Professional (CTFP) but can also be purchased on its own.
If you just complete this course then you will earn a Letter of Completion once you finish (please note there is no exam for this individual course).
However, this course can also be put towards achieving the CTFP qualification. More details can be found here.
If you complete the CTFP then you will earn a Certificate of Achievement, signed by the ICC Secretary General, once you pass the final exam.
All candidates need to be able to read and write in English. For this course, we recommend that you complete ICC Academy’s Introduction to Standby Letters of Credit course first, or you have +5 years working in trade finance sales.
Your purchase includes 12 months to access all the lessons. You can access the lessons as many times as you like within the 12-month access period.
This course is accredited by the London Institute of Banking and Finance (LIBF), The Bankers Association for Finance and Trade (BAFT) and the Global Trade Professionals Alliance (GTPA).
Due to the immediate availability of our course content upon registration, ICC Academy has a strict no-refund policy for our courses and certifications. For more details, please refer to our Terms and Conditions.
This online course will take approximately 5-6 hours to complete depending on your level of experience.
Candidates will have 12 months access to the lessons which can be repeated.
- One-year access to the online course and all 7 lessons
- 10 case studies and 40 assessment questions – we’ll show you how to apply what you learn to real-world scenarios. Please note this is not an exam.
- A printable glossary containing all the key terms for you to refer to throughout the course
- Dedicated, full-time IT support
- Certificate of completion
Yes, all our courses are taken online. This means they are accessible at any time, from anywhere in the world. Learn when and where you want.
This course has been designed for general practitioners working in banks, corporates, or financial institutions in functions such as relationship management, credit and compliance, but with an interest in trade finance.
