Advanced Skills in Documentary Credits and Letters of Credit


Course Objectives

  • Familiarizing participants with the uniform international norms and assets of credit, collection policies and international sales.
  • Correcting misconceptions and mal-practices in the work of documentary credits and collection policies.
  • Enabling participants to acquire the skills to deal with documentary credits, collection policies, duties and responsibilities arising from the parties to the business transaction.
  • Applying the rules of International custom for Documentary credits No. 600 and collection policies (522)
  • .Motivating participants to detect, identify and address irregularities in the areas of documentary credit and collection policies.
  • Discussing practical situations and methods of addressing them with a view to informing participants about how to deal with the resolution of differences.

Who Should Attend?

The employees of the banking business, employees in the central bank, the Islamic banks, commercial banks, the employees of insurance companies, the finance staff of the private sector dealing with import and export, the staff of the internal audit services of the institutions and the internal audit clerks working outside or in the financial, accounting and legal managements, and the management of the collection and the distressed debts, personnel who are rehabilitated them for such positions, and those who wish to develop their skills in terms of credit and letters of credits.

Course Schedule

  Documentary credit

  • Documentary credit (definition – types – parties and documentary cycle).
  • Means of payment – advantages and disadvantages for both the seller and the buyer.
  • Open account and payment submitted under collection documents.
  • Payment by means of documentary credit.
  • Documentary credit parties..
  • The bank in charge of coverage and the bank’s deliberation of documents.
  • The role of banks in opening, amount or enhanced documentary credit.
  • The documentary credit course.
  • The usefulness of documentary credit in foreign trade.
  • Review the contents of the request for the opening of the documentary credit.
  • Types and uses of documentary credit.

Shipping Documents

  • Shipping, air or land bill.
  • Commercial invoice.
  • Certificate of origin.
  • Insurance policy or certificate.
  • Certificate of weights or packaging.
  • Certificate of checking or analysis.
  • Health certificate or pest-free certificate.
  • Bill of Exchange.

 Check shipping Documents

  • Confirming the virtual match of the documents with the credit terms.
  • Focusing on documents (Bill of Exchange, Commercial invoice, insurance document, Bill of lading, and certificate of origin).
  • Ways to deal with document differences.
  • Amendment and extension of the documentary credit.
  • Deception, fraud and forgery in shipping documents.
  • Explaining the most important articles to the Standard Rules for documentary credits in Bulletin No. 600.

Documentary collections

  • The importance and types of documentary collections in international trade.
    Parties dealing with documentary collections.
  • Economics of the use of documentary collections.
  • A comparison between documentary collection and documentary credit.
  • Problems of application in documentary collection.
  • Procedures for the circulation of documentary collections.
  • The responsibility of banks in documentary collections.
  • Uniform rules governing the handling of documentary collections.

 Letters of Credit

  • Letters of credit and their importance in foreign trade.
  • The nature and characteristics of letters of credit.
  • Cover letter of credit.
  • Effects arising from letters of credit.
  • Personal character of letters of credit.
  • Types of letters of credit.
  • Standard Rules for letters of credit.
  • Expiration of letters of credit.
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