Objectives :

  • To familiarize the participants with a brief history of the emergence of the documentary credit and asset Uniform Customs and Practice for Documentary Credits.
  • Familiarize participants with the life cycle of the documentary credit.
  • Familiarize participants with the types of letters of credit in terms of the degree of guarantee / payment / certification convertible / adoption downpayment / dependence method versus another adoption / certification dizziness.
  • To familiarize the participants with funds Aljhuiz (escrow funds) and enable them to understand their own norms.
  • Identify the parties to the documentary credit and responsibility of each party and the relationship between these parties.
  • Identify the risks faced by each party to the letter of credit and how to cope with these risks.

Contents :

  • History: brief history and the basic documentary credit operation.
  • Definitions: article 2 of UCP 600.
  • Flow chart of D / C process: generic flow chart of the documentary credit process.
  • Types of credits: commercial documentary credits, standby letters of credit.
  • Types of payment under D / Cs: availability and settlement methods.
  • Parties of credits (roles and responsibilities):
  • Roles and responsibilities of applicant's side.
  • Roles and responsibilities - beneficiary's side
  • Issuing bank and advising / nominated bank.
  • Issuing bank and confirming bank.
  • Roles and responsibilities in reimbursement.
  • Relationship of parties in respect of payment of conforming documents and non-payment of non-conforming documents.
  • Risk issues to the parties of credits: risks to the applicant:
  • Risks to the issuing bank.
  • Risks to the beneficiary.
  • Risks to the advising bank.
  • Risks to the nominated bank.
  • Risks to the confirming bank.
  • Risks to the reimbursing bank.
  • Examples and cases.

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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