Basics of Documentary Credits and Letters of Guarantee Institute of Banking Studies
Price: TBA

Course details

Objectives :

  • To familiarize the participants cycle of documentary credits and related parties and determine the responsibility and obligations of each party.
  • Familiarize participants with the required documents in documentary credits.
  • Familiarize participants with the types of letters of credit.
  • Familiarize participants with ways of payment documentary credits and the difference between each of them.
  • Familiarize participants with the responsibilities and obligations of both the buyer and seller when using the delivery terms and linked to international contracts INCO-TERMS 2010.
  • Deepen participants' knowledge of domestic and foreign letters of guarantee.
  • Provide the participants practical skills in determining the responsibility of the banks and their obligations in the letter of guarantee.
  • Stimulate the participants to find risks that may contained in the letter of guarantee and how to address them.
  • Deepen participants' knowledge of how drafting letters of guarantee.

Contents :

  • Familiarize participants with the parties to the documentary credit.
  • Statement perils documentary credits for each of the exporter and importer, and how to avoid them.
  • Clarify the conditions to be provided in letters of credit issued and how to avoid risks.
  • To explain the types of documentary credits technically and in terms of the payment method.
  • Risks which may result from the corresponding dependence of conversion and how to avoid a statement.
  • Explain the concept of allowing the value, quantity, unit price in letters of credit margins.
  • Linking the relationship between the dates mentioned in the documentary credit.
  • Amendments documentary credit, obligations and responsibilities of each of the light dependence and the beneficiary.
  • Documents required in letters of credit and how prepared and audited.
  • Commitment and responsibilities of a statement on both the buyer and seller for the international commercial terms (INCO-TERMS).
  • The difference between the letter of guarantee and warranty.
  • Definition of the letter of guarantee and its importance in the foreign trade.
  • Definition of letters of Foreign warranty.
  • How statement issued a letter of guarantee under the adoption of Ward from correspondent banks guarantee.
  • The nature of the guarantees.
  • Payment and the confiscation of guarantees and off.

About Institute of Banking Studies

The Central Bank of Jordan began in 1965 to study the necessary means of setting up a team for theoretical and practical training aimed at promoting human cadres of the banking and financial sector and study its employees needs and satisfy their desires to advance their scientific and practical abilities . These efforts culminated in the creation of the Institute of Banking Studies in accordance with Article (37) Paragraph (d) of the Central Bank of Jordan Law and in accordance with the Institute,s Articles of Association No. (69) issued on 1970. The Institute   was   officially   inaugurated on   October 9, 1971 and was housed then at the Central Bank,s premises.

In the early 1990,s , the  Institute  witnessed a new stage ; the construction of the Institute,s permanent   headquarter   in  Tla,a  Al  Ali ,  a suburb of the capital  Amman . The complex was constructed on an eight dunums plot of land and comprised of administration units, academic and training activities halls, library, laboratories, cafeteria, health clinic and a multipurpose hall. Also , the Institute has two branches, one in Irbid and the other in Aqaba.  The purpose of  these  branches is to widen the distribution of academic and training activities conducted  by the Institute to cover the various regions of the Kingdom.

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