Creating documentary credit specialists
Developing talent where the EBRD invests continues to top our priority list, and our enthusiastic trade finance colleagues in Cyprus and Tunisia are no exception
The EBRD’s TFP continues to invest in talent in the EBRD regions with another trade finance training course, this time on the Certificate for Documentary Credit Specialist (CDCS). Two workshops took place: one in Cyprus on 22-23 July 2019 and the other in Tunisia on 6-7 August 2019.
More than 40 participants attended each workshop and all were awarded with a certificate on completion.
The training was targeted mainly at documentary credit operations staff and trade finance professionals. However, the invitation was extended to other departments that interact with trade finance departments, such as relationship managers, legal staff, middle and back office staff and any other professionals.
The workshop had the valuable additional feature of acting as preparation for participants wishing to acquire an internationally recognised qualification known as the CDCS. The CDCS is managed by The London Institute of Banking and Finance (LIBF) in partnership with the International Chamber of Commerce (ICC). The workshop was delivered by Vincent O’Brien from the ICC Banking Commission.
The workshop covered the following topics
- the sales contract and the role of commercial and financial documents
- Incoterms ® 2010 – a concise review
- a summary of International Trade Methods of Settlement
- foundations of documentary credits and parties involved
- understanding the timing and sequence of the documentary credit cycle
- key principles of documentary credits
- honour, negotiation and how documentary credits are made available
- the role of the nominated bank
- advising and amendments of documentary credits
- reimbursement arrangements under documentary credits
- standard for examination of documents
- examining commercial invoices, transport and insurance documents
- part shipments and instalment drawings
- force majeure
- transferable documentary credits and assignment of proceeds
- advanced level documentary credit case studies
- recent legal cases of interest and impact
- examining documents and compliance workflow.