LC UCP 600 


Price:                                         2500  AED 
Duration:                                    24 Hours
Timings:                                      Flexible

 Course Overview

  1. Definition & Types of LCs
  • Definition - Issuance – amendment – extension - utilization
  • Types & Risks of letter of credit - Irrevocable, Confirmed, Transferable, Revolving, Red Clause, Back to Back
  • Contents of LC
  • Why UCP is must for LCs
  • General provisions of UCP 600
  1. Review of terms & conditions
  • Terms of LC in light of UCP600 (term vs articles)
  • Ambiguous terms definition & interpretations
  • Understanding difference between Payment / Negotiation & Accpetance/Defferred Payment
  • Partial Shipments
  • Minimal requirements for 45A Goods Description
  1. Documentary Requirement
  • Transport document  - Sea / Air / Road / Rail
    • How to evaluate your transport documents - 11 points theory
    • Who should issue transport document
    • Why confirmation of dispatch is a must
    • SHIPPED ON BOARD vs CLEAN ON BOARD
  • Commercial Invoice
  • Insurance Documents in light of UCP 600
    • Who can issue insurance
    • In whose name insurance should be issued
    • Date of insurance / cover percentage / risks  etc.
  • Other documents as per UCP 600
  1. Presentation
  • Importance of Period of Presentation  / how to benefit from
  • Period Of Presentation Presenter, presentation, original doc/copies /signature
  • Time frame for banks & their obligation
  1. Discrepancies
  • Understanding Discrepancy(ies)
  • Inconsistency - Discrepant documents – Waiver – Notice - Acceptance
  • Direct & Indirect costs & impact of discrepancy(ies)
  • How to deal & control discrepancy(ies)
  1. Complying Presentation
  • Principles of documentary verification
  • Checking documents according to UCP 600 & ISBP
  • When banks are precluded from claiming any discrepancy in documents
  1. Open debate on problems faced by participants in documentary credits and their solution
  2. Answer & question will be throughout the training session