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Registration for April 2021 CDCS examination is now open

25/09/2020

If you are interested, or keen, to take the CDCS examination, registration for the examination which is to be held on 16 or 17 April 2021 (date depends on your location) is now open. Registration will close on 31 January 2021.

Please note that additional training materials for the CDCS examination are available through our on-line training website - www.tradefinance.training

 


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Recent News

Spurious Emails 24/11/2025

There appears to be some spam messages circulating apparently from an email address                                      no-reply@collyerconsulting...more

Autumn 2025 Newsletter added to the Members Trade Information section 31/10/2025

This newsletter covers the 6 opinions that were approved by the ICC Banking Commission on 21 October...more

Latest Question

We, as issuing bank, issued a credit for importing 4 sets of machines under 2 contract Nos. The first and second delivery under one contract No., the third and the fourth delivery under another contract No. Partial shipment is allowed for 4 shipments only and each shipment to cover 1 set. In field 46A, quote +SECOND AND FOURTH DELIVERIES: TWO ORIGINALS OF WARRANTY GUARANTEE ISSUED BY L/C BENEFICIARY'S BANK IN FAVOR OF L/C APPLICANT COVERING EUR14,400.00 (i.e., 5pct of contract value), WHICH SHOWS THE EXPIRY DATE IS 12 MONTHS AFTER VESSEL DELIVERY, OR 28 MONTH AFTER THE LAST DELIVERY OF EACH RUDDER SYSTEM, WHICH ONE COMES EARLIER.unquote Under the second presentation, we recevied 2 copies of the warranty guarantee issued by SWIFT sent to us. Under the fourth presentation, we only recevied ONE copy of the warranty guarantee issued by SWIFT sent to us. Questions: 1. Under the fourth presentation, can we raise the discrepancy '1 copy instead of 2 copies of warranty guarantee presented’? (we know that according to ICC Opinion TA900, if a credit is silent as to the issuance method of the guarantee, the guarantee either in paper form or in electronic means is acceptable) and why? 2. Suppose that beneficiary presented the guarantee in paper form, how to understand the requirement of the credit ‘+SECOND AND FOURTH DELIVERIES: TWO ORIGINALS OF WARRANTY GUARANTEE ISSUED BY... ’? does it mean that 2 originals of the guarantee are required separately for the second delivery and fourth delivery or that one original for the second delivery and one original guarantee for the fourth delivery, which understanding is correct? 3. If the credit clearly requires “2 originals of warranty guarantee issued by beneficiary’s bank IN PAPER FORM covering ....” , is it reasonable for issuing bank to call for a guarantee which is issued in paper form in  TWO originals under the second delivery and fourth delivery separately and why?  Does ISDGP paragraph 97 have something helpful in analysing this issue?