Advanced Standby Letters of Credits

Course code : TF 201-7

This Advanced Letters of Credit course will take an in-depth look at how standby letters of credit work, many of the purposes for which they can be used, the rules and regulations governing them, and problems that can arise around them.

Participants will learn why it is so important to word standbys properly and how to protect themselves against problems.

Number of teaching lessons : 9 Modules Duration : 5 hours
Level : 2 Language: English
Credit category : 5

General practitioners working in banks, corporates, or financial institutions in functions such as relationship management, credit and compliance, but with an interest in trade finance.

This eLearning course is part of the Certified Trade Finance Professional (CTFP) certificate and includes a self-assessment tool to help you prepare for the final examination of the CTFP.

However, please note you will only be able to take the final exam and receive the certificate, if you purchase the full Certified Trade Finance Professional course. You will not be able to take the exam if you make multiple, separate purchases of individual courses that together make up the CTFP.

The pass grade for the CTFP exam is set at 70%.

Module 1 Competing Rules for Standbys

Module 2 Laws Governing Standby Letters of Credit

Module 3 Regulations Governing Standby Letters of Credit

Module 4 Overview of the ISP

Module 5 The ISP98 Model Forms

Module 6 Dissecting a Standby L/C Application

Module 7 Standby L/C Issues

Module 8 Other Areas of Concern

Module 9 Case Study

Walter (Buddy) Baker has more than 30 years of experience in working with companies to finance and insure their trade receivables. His professional experience includes stints with Atradius Trade Credit Insurance, ABN AMRO Bank, Bank of America, Wachovia Bank, and The First National Bank of Chicago.

Mr. Baker has authored numerous magazine articles and the books Users’ Handbook to Documentary Credits under UCP600 (ICC publication no. 694), Documentary Payments & Short-Term Trade Finance, and The Regulatory Environment of Letters of Credit and Trade Finance. As a member of the Commercial Letter of Credit Committee of the Bankers’ Association for Finance and Trade, the Advisory Council of the Institute for International Banking Law and Practice, and the Council for International Standby Practices, Mr. Baker is actively involved in establishing national and worldwide standard practices for both commercial and standby LCs. He also serves on the Board of Directors of the Association of International Credit and Trade Finance Professionals, a multinational association of export credit managers.