ISP Master contains over 12 hours of online training and instruction in ISP98, the rules governing the operation of Standby LCs/independent undertakings.

The Course is designed to ensure proficiency in this area of trade finance work.

Trainees who complete ISP Master qualify for 12 PDUs/CPDs towards recertification for the Certified Documentary Credit Specialist (CDCS) accreditation offered by BAFT and LIBF.

The course content is written by Professor James Byrne of the Institute of International Banking Law & Practice (IIBLP) in conjunction with Gary Collyer Technical Adviser to the ICC Banking Commission.

Number of teaching lessons : 4 MODULES Duration : 12 hours
Level : Advanced Language: English
Credit category : 12 PDUs/CPDs

This module provides a comprehensive assessment for trainees to test their knowledge of standby credit practice and ISP98.


Module 1: Essentials
This module examines the use of assurances in commercial arrangements, the function of dependent and independent undertakings, the roles of the parties to standby credits and the key terms and conditions that are used in standby letters of credit.

Module 2: Rules
This module provides an article-by-article analysis of the ISP98 rules and also examines the comparable provisions of UCP 600.

Areas covered:

  • Transfer and assignment
  • Obligations of the parties
  • Cancellation of a standby
  • Presentation
  • Reimbursement obligations
  • Examination
  • Expiry
  • Disposal of documents
  • Syndication/participation

Module 3: Case Studies
This module covers key aspects of standby letter of credit work, including: applying for a standby credit; reviewing the terms and conditions of a standby credit for workability; examining a presentation of documents from the perspective of a nominated bank and issuing bank; and issuing a refusal notice.

Module 4:  Assessment
This module provides a comprehensive assessment for trainees to test their knowledge of standby credit practice and ISP98.

The training content is written by Gary Collyer, Technical Adviser to the ICC Banking Commission, and Chair of the UCP 600 Drafting Group.

As the training is delivered online, each member of your staff can be trained to an ICC approved standard regardless of location. Every trainee receives an ‘ICC Certificate of Achievement’ on completion of a course indicating their personal results.

The training courses come complete with a Learning Management System so organisations can easily manage allocation of the training and keep track of trainees’ progress and results.

Value for money
With prices starting at €300 per trainee – and discounts for volume orders – DC Master is a very cost effective way to train your staff.

Discounts are offered for multiple orders as follows:

  • 1 to 9 trainees - €300 / trainee
  • 10 to 49 trainees - €250 /trainee
  • 50+ trainees - €200 / trainee

To talk through your specific requirements call +353 1 2352166 or email us at

Click here to e-mail us your requirements, and we will prepare a quotation to match your needs.

To evaluate whether DC Master fulfils your training needs, you can avail of a free evaluation of the service. Provide us with some simple administrative details so that we can provide you with personal access to selected parts of the service.

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