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CDCS study materials-Refusing documents Refusing documents Chapter-18 18.1 Handling discrepant documents Once examination has been completed and after taking account of any regulatory or legislative requirements, a document examiner will decide whether or not the documents comply. If the documents comply, the document examiner will take up the documents and arrange a settlement. […]
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Examining insurance documents Chapter-15 Examining insurance documents Learning objectives This chapter highlights the requirements when examining documents such as insurance documents or financial, commercial and official documents. By the end of this chapter, you should be able to: ◆◆ understand the key examination criteria for insurance, financial, commercial and other […]
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CDCS study materials-Honour or negotiation Chapter-17 Learning objectives This chapter provides an overview of the concept of honour and negotiation. By the end of this chapter, you should be able to: ◆◆ explain the different settlement terms; ◆◆ understand settlement flows; ◆◆ explain the terms ‘honour’, ‘negotiation’ and ‘prepay and […]
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CDCS Study Materials-Sales Contract MCQ -Sales Contract 1. An exporter sells goods overseas on FOB and CIF Incoterms, respectively. Who is responsible for the freight charges in each? A. FOB — importer / CIF – exporter B. FOB – importer / CIF – importer C. FOB – exporter / CIF […]
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CDCS Training Materials-Examining transport documents Chapter 14 Examining transport documents Learning objectives This chapter highlights the requirements when examining transport documents. By the end of this chapter, you should be able to: ◆◆ understand the key examination criteria for transport documents; ◆◆ identify the different characteristics of transport documents; and […]
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Advising a documentary credit Advising a documentary credit Learning objectives This chapter describes the process from the time of receipt of a documentary credit by a bank designated as the advising bank or second advising bank to the time it is advised to a beneficiary. By the end of this chapter, you […]
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Issuing a documentary credit Learning objectives: In the context of this chapter, the words ‘customer’ and ‘applicant’ are interchangeable and reflect the status pre-issuance (customer) and post-issuance (applicant). This chapter describes the process performed by a bank from the time of its receipt of an application form, as completed by […]
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Essential elements of a sales contract Essential elements of a sales contract 5.1 Introduction The most basic agreement in international trade is the sales contract concluded between a seller and a buyer. This is often referred to as a ‘sales agreement’, an ‘export contract’ or a ‘foreign sales agreement’. For the purpose […]
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CDCS Training materials-Examining documents Introduction To develop an understanding of what is considered to represent international standard banking practice in the examination of documents, the ICC Banking Commission published the ISBP, first in 2003 (ISBP 645), then in an updated form in 2007 (ISBP 681), and in a revised form […]
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Documentary credit-Pre-issuance considerations and requirements Pre-issuance considerations and requirements A documentary credit as the chosen method of settlement One of the key decisions to be made when a seller and buyer negotiate a sale contract is the selection of the terms of payment. When a documentary credit is chosen, both […]
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CDCS Exam MCQ and Answer CDCS Exam MCQ and Answer Chapter 1:The history and use of documentary credits One of the first forms of letter of credit introduced was known as which one of the following? A. A businessman’s letter of credit B. An exporter’s letter of credit C. A […]
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CDCS Exam 2020 Probable Question and Answers Chapter 1 The history and use of documentary credits One of the first forms of letter of credit introduced was known as which one of the following? A businessman’s letter of credit An exporter’s letter of credit A traveler’s letter of credit D.A […]
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eUCP Chapter-23 Learning objectives: This chapter includes a brief history and outline of eUCP. By the end of this chapter, you should be able to: ◆◆ describe the features of eUCP; and ◆◆ understand the contrast between the rules in UCP 600 and those under eUCP. 23.1 eUCP The ICC […]
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Bank to bank reimbursements and reimbursement from aid agencies 22.1 The relationship between an issuing bank and a reimbursing bank Although only one bank (an issuing bank) is necessary to facilitate reimbursement under a documentary credit, in many cases an issuing bank will nominate another bank to reimburse a nominated bank that […]
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CDCS study materials-Standby letters of credit Chapter-21 Learning objectives This chapter provides an overview of standby letters of credit and the content of ISP98. By the end of this chapter, you should be able to: ◆◆ describe the origins and use of a standby letter of credit; and ◆◆ understand the […]
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