Advanced Documentary Credits
Learning objectives
By the end of this letter of credit course you will be able to:
Understand the basic transaction flow of a documentary letter of credit.
Recognise the importance of a well-managed application process.
Analyse document verification and discrepancy management, and the role of UCP, ISBP, and judicial decisions.
Compare and contrast sight and usance DCs and their impact on cashflow
Identify the difference between a transferable DC and back-to-back DCs and the purpose of each.
Gain a high-level understanding of the roles and relationships of key parties to a transaction.
Identify the nature of documentary requirements that can arise under a documentary credit (DC)
Discover the role of export credit agencies and multilateral development banks.
Understand the mechanics of document preparation and presentation.
Recognise that DCs can be issued with numerous features to make them adaptable to various trading needs and conditions.
Course curriculum
Lessons
In this lesson, you will have an understanding of the key features and transaction flow of a documentary credit and gain a high-level understanding of the roles and relationships of key parties to a transaction.
In this lesson, you will learn the application and issuance process of a DC and the importance of a well-managed application process.
You will also identify the nature of documentary requirements that can arise under an DC.
In this lesson, you will learn the process and importance of DC confirmation and the role of the advising Bank.
You will also learn to recognise the obligations a DC confirmation in risk mitigation and the role of export credit agencies and multilateral development banks.
In this lesson, you will have an understanding of the process and mechanics of document preparation and presentation, including discrepancy management and the role of UCP, ISBP, and judicial decisions.
In this lesson, you will learn the various roles of banks under a documentary credit (DC) including the range of financing options that can be offered under a DC.
You will also compare and contrast sight and usance DC and their impact on cashflow.
In this lesson, you will learn the other features of a DC such as confirmation, red and green clause entries, revolving DCs, and transferability.
In this section, we will take a look at two 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.
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 have previously completed the ICC Academy’s Introduction to Documentary Credits course.
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 letter of credit training course and all 8 lessons
- Two case studies and 43 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
- A downloadable study reference guide
- 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.