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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

Results of ICC Survey regarding a possible revision of UCP and/or update to ISBP 821 12/02/2026

At the end of 2025, the ICC Banking Commission requested feedback from its members as to whether it was time for a revision of UCP 600 and/or an update to ISBP 821...more

Technical Advisory Briefing No. 17 - Handling of ‘surrendered’ bills of lading under documentary credits subject to UCP 600 09/02/2026

The latest ICC Trade Advisory Briefing can be found in the following link: https://library...more

Latest Question

LC goods description details the chemical composition of the required goods and a unit price is to be adjusted up or down depending on the percentage of CR203 above a base requirement. For the presented invoice in this case, the percentage of CR2O3 is higher than the base requirement and the invoice correctly reflects the premium added to the unit price, as defined in LC terms. We have no issues with the invoice which shows total value of USD 144,602.15. (However this overdraws the LC, as there is no provision in LC that LC overdrawn due to premium added to unit price to be acceptable). The issue we have, however, is that the presenting bank is only claiming for USD 136,000.00, which is less than the invoice amount. When queried with them their explanation is that the goods quality is better than required in the contract, so the beneficiary only requires payment for the contracted quality. In any case they are claiming less than if there was no premium applied to the unit price on the invoice. There are multiple discrepancies so claiming for an amount less than shown on the invoice won't make them LC compliant. This is raising a red flag for us and we would welcome your opinion.