About Workshop
The objectives of this training are to familiarize the participants about the latest changes in the “Uniform Customs & Practice for Documentary Credits (UCPDC)”, ICC Rules on Documentary Credit (ICC Publication No. 600) that govern International Trade worldwide and presentation of documents in electronic form and other related ICC publications related to international trade. UCP 600 contains important new provisions in the field of transport, insurance and compliance, which forms the basis of letter of credit transactions for years to come. The training is designed to add value to the participants engaged in exports and imports operations through Documentary Credit by developing their knowledge and skill in handling documents in compliance with the terms and conditions of L/C, applicable UCP provisions and International standard Banking Practice and with EPZ Rules.
Background:
Exports-Imports Operation by way of Documentary Credit calls for proper understanding and in depth knowledge of UCPDC and ISBP. But why?
• How Documents under Documentary Credit (L/C) Operation Control the Payment Function?
• Why Banks incorporate the UCP in their Letters of Credit?
• What does complying presentation means?
• Why documents under documentary Credits that incorporate the UCP must satisfy International Standard Banking Practice (ISBP)?
• Do sellers and buyers remain protected under Documentary Credit Payment Method over other Methods of Payment used in international trade?
To learn these ICC rules and many other practical details regarding imports & exports through Documentary Credit (Letter of Credit) from the experience of a professional Banker, bdjobs training invites you to the daylong exclusive training on “Rules applicable for Imports and Exports including EPZ Rules”
Workshop topics to be covered:
Session: One
Article 1 – 13
• Article 1: Application of UCP
• Article 2: Definitions
• Article 3: Interpretations
• Article 4: Credits v. Contracts
• Article 5: Documents v. Goods, Services or performance
• Article 6: Availability, Expiry Date and Place for Presentation
• Article 7: Issuing Bank Undertaking
• Article 8: Confirming Bank Undertaking
• Article 9: Advising of Credits and Amendments
• Article 10: Amendments
• Article 11: Teletransmitted and Pre-advised Credits and Amendments
• Article 12: Nomination
• Article 13: Bank to Bank Reimbursement Arrangements
Session: Two
Article 14 – 26
• Article 14: Standard for Examination of Documents
• Article 15: Complying Presentation
• Article 16: Discrepant Documents, Waiver and Notice
• Article 17: Original Documents and Copies
• Article 18: Commercial Invoice
• Article 19: Transport Documents Covering at Least Two Different Modes of Transport
• Article 20: Bill of Lading
• Article 21: Non-Negotiable Sea Waybill
• Article 22: Charter Part y Bill of Lading
• Article 23: Air Transport Document
• Article 24: Road, Rail or Inland Waterway Transport Documents
• Article 25: Courier Receipt, Post Receipt or Certificate of Posting
• Article 26: “On Deck”, “Sipper’s Load and Count”, “Said by Shipper to Contain” and Charges Additional to Freight
Session: Three
Article 27-39
• Article 27: Clean Transport Document
• Article 28: Insurance Document and Coverage
• Article 29: Extension of Expiry Date and Last day for Presentation
• Article 30: Tolerance in Credit Amount, Quantity and Unit Prices
• Article 31: Partial Drawings or Shipments
• Article 32: Installment Drawings or Shipments
• Article 33: Hours of Presentation
• Article 34: Disclaimer on Effectiveness of Documents
• Article 35: Disclaimer on Transmission and Translation
• Article 36: Force Majeure
• Article 37: Disclaimer for Acts of an Instructed Party
• Article 38: Transferable Credits
• Article 39: Assignment of Proceeds
Session: Four
• International Standard Banking Practice (ISBP) for the Examination of Documents under Letter of Credit - ICC publication No. 681
• EPZ Rules
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