ISBP-International Standard Banking Practice The ISBP is a checklist of best practices worldwide for checking documents under the UCP, ICC’s universally used rules on letters of credit. Because the UCP rules are general in nature, it was necessary to define in greater detail the term “international standard banking practice”, first […]
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Guide to Documentary credits Guide to Documentary credits Guide to Documentary credits- Definitions Guide to Documentary credits- Definitions-www.bankingallinfo.com Guide to Documentary credits- Definitions? Learning objectives In this study text,reference is made repeatedly to different terms that are associated with documentary credits and the type(s) of role that a bank may undertake. […]
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ISBP 600 ISBP 600 The Application and Issuance of the Credit 1. The terms of a credit are independent of the underlying transaction even if a credit expressly refers to that transaction. To avoid unnecessary costs, delays and disputes in the examination of documents, however, the applicant and beneficiary should […]
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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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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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The role of the nominated bank Learning objectives This chapter describes the role and responsibilities of a nominated bank. By the end of this chapter, you should be able to: ◆◆ describe the concept of a bank ‘acting on its nomination’; and ◆◆ understand what it means to be a […]
Read moreURR 725 and issuance of Reimbursement Authorisation, URC 522: Collection of Bills (Clean & Documentary) Uniform Rules for Bank-to-Bank Reimbursements under Documentary Credit -URR 725 New Publication Number 725 to become effective October 1, 2008 Background to URR: The Uniform Rules for Bank-to-Bank Reimbursements (“URR”) were first published by ICC […]
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