Overview

Documentary credits are seen as a guaranteed way for sellers to obtain the price of the goods within the credit from the banks and not the buyer and ensure the receipt of the value of the goods in exchange for the submission of the documents consistent with its terms when the banks issue obligations to pay if the documents are received within the agreed terms.

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Outcome

Explain what a documentary credit is and its main features


Identify pre-issuance considerations


Understand Letters of credit cycle


Identify roles and responsibilities of the issuing bank, confirming bank, advising bank, and nominated bank


Understand the scope of application of Uniform Customs and Practices (UCP600)

Details

Developed by: Beacon FinTrain

Total Hours: 18 Hrs

Language: English - Bilingual "English & Arabic"

Modalities: 
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Outline

The letter of credit definition and its main features and parties.
The responsibilities and risks of the parties involved.

Different types of approvals needed for LC issuance.
Credit approval.
Compliance approvals.
Financial institutions approvals.
CBE approval.
Letters of Credit’s SWIFT types format and necessary fields.

LC issuance, amendment, advising, confirmation, and settlement.
Presentation and examination of documents.

Different types of approvals needed for LC issuance.
Credit approval.
Compliance approvals.
Financial institutions approvals.
CBE approval.
Letters of Credit’s SWIFT types format and necessary fields.

Roles and responsibilities of the Issuing bank, article 7.
Roles and responsibilities of the Confirming bank, article 8.
Roles and responsibilities of the Advising bank, article 9.
Roles and responsibilities of the Nominated bank, article 12.
Roles and responsibilities of the Reimbursing bank, article 13.

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Who Should Attend

  • Credit Analysts
  • Compliance Officers
  • Trade Finance Managers
  • Relationship Managers
  • Trade Operations Managers
  • Trade Finance Officers
  • Documentary Credit Specialists
  • Operations Analysts

Why Beacon

Quality

Beacon FinTrain prioritizes excellence in every service, ensuring top-notch, reliable, and consistent outcomes that meet and exceed client expectations.

Specialization

We focus on finance, offering expert knowledge and bespoke solutions that cater to the unique needs of finance professionals in the Middle East and Africa.

Punctuality

Time is money. We respect deadlines, delivering precise and timely results to help our clients stay ahead in the fast-paced financial world.

Guidance

Beacon FinTrain is a guiding light in finance, providing insightful advice and support to navigate the complexities of financial markets and regulations.

Integrity

We uphold the highest ethical standards, fostering trust and transparency in all our dealings to build lasting relationships with clients.

Flexibility

Adapting to the dynamic finance sector, we offer versatile services and solutions that align with the evolving needs of our clients.

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