UCP 600 and ISBP 821 Practitioner
70% of first presentations under LCs are discrepant. Don't let yours be one of them.
According to the International Chamber of Commerce (ICC), the global authority behind UCP and ISBP rules, 70% of first presentations under LCs are discrepant. This course will teach you not just what the latest rules say, but how to apply them effectively in a diverse range of documentary credit transactions. Trade finance officers and operations teams will learn how to reduce document errors, enhance compliance, and improve operational efficiency through detailed case-based simulations that reflect real and current transaction challenges.
Course curriculum
This course includes 10-12 hours of online learning spread over eight modules. The modules are all authored by Dave Meynell, Senior Technical Advisor to the ICC Global Banking Commission.
Modules
You have six months access to all eight modules.
Lesson 1: Trade finance officers
- Trade finance and its role in global trade
- Roles and responsibilities of trade finance officers, including structuring documentary credits, conducting document examinations, resolving disputes, and liaising with all relevant parties
Lesson 2: Understanding documentary credits: roles, risks, and rules
- Importance of documentary credit
- Parties involved in the processing of documentary credits
- Common issues and discrepancies
- Importance of UCP 600 and ISBP 821 – the standards for documentary credit transactions
- Key features of UCP 600 and ISBP 821
Lesson 3: Best practices for trade finance officers
- Best Practices for Trade Finance Officers
- Insights from the Course Author: Why UCP 600 and ISBP 821 are indispensable for trade finance practitioners, background, history, and key considerations
Lesson 4: The underlying sales contract
- Importance of a sales contract
- Important terms in the sales contract and in documentary credits
- Insights by the Course Author: Practical tips on drafting and managing documentary credits
Case simulation 1: Negotiating the sales contract (transaction 1)
- Relevant UCP 600 rules and ISBP 821 guidance
- Required Documents
- Incoterms 2020
- Defining Partial Shipment
- Sight vs Deferred Payment
- Bills of Exchange
- Bills of Lading
Case simulation 2: Negotiating the sales contract (transaction 2)
- Relevant UCP 600 rules and ISBP 821 guidance
- Required documents
- Incoterms® 2020
- Defining partial shipment
- Sight payment
- Non-transferable credit
- Use of virgules and commas
Case simulation 3: Applying for a documentary credit
- Relevant UCP 600 rules and ISBP 821 guidance
- Importance of credit facility terms, application form guidance, and alignment with UCP 600
Lesson 5: Issuing a documentary credit
- Insights by the course author: types of documentary credits and sanctions
- Best practices for drafting documentary credits
- Relevant UCP 600 rules and ISBP 821 guidance
- Implications of excluding UCP 600
- Mitigating risks from exclusions
- Expiry date
- ISBP 821 guidelines on examining documents
- Handling undefined terms and non-transport documents
Case simulation 4: Issuing documentary credits
- Relevant UCP 600 rules, ISBP 821 guidance, and ICC technical advisories
- Terms and conditions
- Certificate requirements
- Original documents and copies
- Signature
- Transportation and insurance
- Handling courier/postal receipts
Lesson 6: Amendments
- Walkthrough of the documentary credit amendment
Lesson 7: Advising the credit
- Roles and responsibilities of the advising bank
- Best practices
- Relevant UCP 600 rules and ISBP 821 guidance
Case simulation 5: Advising documentary credits
- Relevant UCP 600 rules and ISBP 821 guidance
- Expiry location
- Insurance coverage
- Document compliance
- Transferability
- Transshipment allowance
Lesson 8: Confirming the credit
- Roles and responsibilities of the confirming bank
- Risk assessments
- Key examination points
- Best practices
- Insights by the course author: Non-standard conditions, silent confirmations, and assignments
Case simulation 6: confirming documentary credits
- Relevant UCP 600 rules and ISBP 821 guidance
- Managing credit confirmation and document compliance
Lesson 9: Document presentation and examination
- Examining documents under UCP 600
- Document collation
- Managing conflicts
- Relevant UCP 600 rules, ISBP 821 guidance, and ICC technical advisories
Lesson 10: Document examination using UCP 600 and ISBP 821
- Relevant UCP 600 rules, ISBP 821 guidance
- Commercial invoice
- Originals and copies
- Signature and date requirements
- Accepting intent and substance
- Key differences by banks when examining documents
Case simulation 7: Advising bank examining the documents
- Roles of advising bank when examining documents
- Simulation of document review using relevant UCP 600 rules and ISBP 821 guidance
Case simulation 8: Issuing bank examining the documents
- Roles of the Issuing Bank when examining documents
- Simulation of document review using relevant UCP 600 rules and ISBP 821 guidance
Case simulation 9: Confirming bank examining the documents
- Roles of the confirming bank when examining documents
- Simulation of document review using relevant UCP 600 rules and ISBP 821 guidance
- Common issues and solutions
Lesson 11: Honouring and negotiation
- Review the key differences between banks when examining documents
- Relevant UCP 600 rules, ISBP 821 guidance
- Honouring a credit
- Payment and reimbursement
- Negotiation: Confirmed and unconfirmed credit
- FAQs
- Financing
- Insights by the course author: Fraud, red flags, injunctions, and force majeure.
Lesson 12: Discrepant documents
- Banks’ role in educating clients
- Key actions when documents are not compliant
- Notice of refusal
- Preclusion
- Sending a refusal – format, timeline, and key considerations
Lesson 13: Guidance for applicants and beneficiaries
- Issuing bank and the waiver process
- When discrepancies arise
- Insights by the course author: Understand the requirements for communication, liaison and waivers.
Case simulation 10: How the advising bank handles discrepancies
- Roles of the advising bank when handling discrepancies
Case simulation 11: How the issuing bank handles discrepancies
- Roles of the Issuing Bank when handling discrepancies
Case simulation 12: How the confirming bank handles discrepancies
- Roles of the confirming bank when handling discrepancies
Lesson 14: UCP 600 vs eUCP
- eUCP for documentary credit
- Compare key features and benefits of using UCP 600 and eUCP
- Hours of presentation
- Notice of completeness
Lesson 15: UCP 600 vs eUCP
- Preparing for eUCP
- Benefits of transitioning to eUCP
- Insights by the course author: How eUCP and ISBP 821 principles are evolving with digital trade finance technologies.
Case simulation 13: How the applicant and beneficiary prepare for eUCP
- Key points on how the applicant and the beneficiary prepare for eUCP
- Documentary credit terms
- Important key terms
Case simulation 14: How the issuing bank prepares for eUCP
- Important consideration when preparing for eUCP
- Notice of completeness
Case Simulation 15: How the issuing bank prepares for eUCP
- eUCP Articles e6 and e7
- Data processing and electronic system
- Settlement
Insights by the course author:
Recap and final expert commentary, emphasising best practices for managing documentary credit challenges.
Who is this course for?
Trade Finance Officers
Trade finance officers and document checkers with limited structured and practical training in ICC rules, confused by rejection risks and struggling with inconsistent guidance. Need to understand not only UCP 600, but also ISBP 821 and the emerging eUCP environment.
Trade Finance Leaders
Team leaders in trade operations teams where LC discrepancies remain a major operational challenge. Struggling to onboard new staff with little to no grounding in ICC rules and meet evolving compliance needs. Need to ensure consistency and accuracy across their team.
Export Managers
Export managers and trade documentation specialists in manufacturing, FMCG and agribusiness who handle LC backed transactions. You are frustrated with document rejections and have a limited understanding of how banks apply the rules.
Freight forwarders
Freight forwarding operations staff at freight and logistics organisations or shipping agencies that are involved in preparing documents under LCs. You want to reduce client-side issues, understand ICC standards, align with banking expectations and enhance team documentation standards.
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FAQs
No. The UCP 600 & ISBP 821 Practitioner course does not include an exam or formal assessment so there is no certificate included. However, if you wish to have your knowledge and understanding of the UCP 600 validated by ICC, you can also enrol on the Certified UCP 600 Specialist (CUCP) exam. This is a 2-hour online, live-proctored assessment and if you pass, you will receive an ICC certificate of achievement. The CUCP can be purchased on its own for US$129 or as part of a bundle with this course for US$399.
You will find lots of self-assessment questions throughout the modules on this course so you ensure you have understood the core concepts taught. However, there is no formal assessment. If you wish to have a certificate from ICC that validates your understanding of UCP 600, please consider the Certified UCP 600 Specialist (CUCP) exam.
Depending on your level of existing understanding it will take between 10-12 hours of active learning to complete the modules.
Yes. This course is designed to help you meet evolving compliance demands with ISBP 821 updates and digital trade standards. Module 7 is dedicated to transitioning from UCP 600 to eUCP.
You have access to all eight modules for six months from the date you are enrolled.
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.
