Course details

Long awaited by letter of credit users, the ISBP contains some 200 paragraphs setting forth the steps document checkers should take when reviewing presented documents.

HIGHLIGHTS

  • Background, Purpose and Objectives of ISBP
  • Introduction and Preliminary Considerations
  • General Principles
  • Specific Requirements of the Stipulated Documents

Some of the questions answered in the workshop:

Are you 100% sure you have the right answers?

  • Do drafts, certificates and declarations - if not stated in the credit - require a signature?
  • Under what conditions can drafts drawn on the applicant be issued?
  • What effect do on board notations have if they contain the words "shipped in apparent good order", 
  • "laden on board" and "clean on board"?
  • What will be deemed to be the date of dispatch on a multi modal transport document?
  • Does an air transport document have to indicate that the goods have been accepted for carriage?
  • What constitutes an “alteration” or “addition” to a document, when and how should these 
  • be authenticated?
  • How should documents be signed, if this is not explicitly stated in the credit?
  • How should one handle typing errors on documents regarding the name and address, different 
  • addresses of same company, etc.?
  • Must trade terms, such as Incoterms, appear on the invoice?
  • What is the “face” of a transport document and should a practitioner examine the reverse side to 
  • determine the name of carrier, description of the journey, etc.?
  • What is a full set of insurance documents, a copy vs. an original, endorsements, and the effective date?
  • If the LC is silent, does a certificate require a date and/or a signature?
  • If the LC requires a document issued by Company A and an authorized signatory of Company A signs on Company B letterhead. Is this acceptable?
  • Can a bank reduce the number of acceptable languages in its advice and confirmation of the LC?
  • What three kinds of documents must bear an issuing date even if the LC and the UCP 600 are both silent?
  • "Within 2 days of (an event)" means 2 days before, or 2 days after that event or both?
  • If the LC requires a packing list and a weight list, is presentation of a combined packing/weight list acceptable?
  • Under what conditions is a typographical error not deemed to be a discrepancy?
  • Can documents show goods not mentioned in the LC, but all supplied free of charge, such as advertising materials, spare parts and other sales supports?
  • Must all bills of lading be marked "originals"?
  • Can an endorsement in a BL be made by an agent of the shipper?
  • Is a BL stating "packaging may not be sufficient for the sea voyage" acceptable?
  • If LC requires "insurance for 110%", should "sum insured" be exactly 110% CIF value or it only represents a minimum amount?

CONTENTS

  • Background, Purpose and Objectives of ISBP
  • Introduction and Preliminary Considerations

General Principles on:

  • Issuer
  • Language
  • Dates
  • Titles of Documents
  • Multiple Pages
  • Attachments and Riders
  • Originals and Copies
  • Expressions not defined in UCP 600
  • Typing Errors
  • Abbreviations
  • Inconsistency
  • Shipping Marks
  • Signatures
  • Certification and Declaration
  • Corrections and Alterations
  • Transport Documents Articles that do not apply

Specific Requirements of the Stipulated Documents:

  • Drafts, 
  • Invoices, 
  • Maritime/Ocean Bills of Lading, 
  • Charter Party Bills of Lading, 
  • Multimodal Transport Documents,
  • Air Transport Documents, 
  • Road, Rail and Inland Waterway Transport Documents, 
  • Insurance Documents and Certificate of Origin.

WHAT YOU WILL OBTAIN

  • Real life examples and interesting case studies
  • A chance to discuss and clarify your doubts, questions, trade issues etc.
  • Complete study material
  • Comprehensive Import Export Checklist
  • Quality refreshments and lunch
  • Certificate of attendance
  • Networking opportunity with banking and trade professionals

WHO SHOULD ATTEND

A must for all practitioners of the UCP 600 and Letters of Credit Operations. Are you ready?

  • Document Checkers and Managers in Banks
  • Logistics Staff from Importers and Exporters
  • Documentation Staff of Freight Forwarders, Carriers and Insurers
  • Lawyers engaged in trade finance and commercial laws
Updated on 08 November, 2015

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