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                         Course Outline (.PDF 217kb)

       Early Payment Deadline  CGBP

Are you experiencing LC discrepancies? If yes, this training is for you!!!
THURSDAY & FRIDAY, AUGUST 1 & 2, 2019 * 9:00AM to 5:00PM
Effective June 2013, the revised rules in letters of credit (LC) contained in the Uniform Customs & Practice for Documentary Credits (UCP 600) will follow the new International Standard Banking Practice (ISBP 2013). It will provide Bankers, Lawyers, Buyers and Sellers in import and export transactions a comprehensive clarification on key principles of documents preparation and detailed rules for the examination of documents. What was previously considered as a discrepancy is now no longer valid discrepancies for an Issuing Bank to reject payment. All it takes is just one discrepancy in Export Documentation under LC to result in Non-Payment. To avoid discrepancies, those handling Letters of Credits must be updated with the UCP 600 & ISBP 2013.

ISBP 2013 updated and expanded the details on how to apply banking practices under UCP600 to various trade documents (invoices, transport documents, bills of lading, certificates of origin) and features documents, which were not covered in previous editions such as the packing list, weight list, beneficiary certificate, non-negotiable sea waybills, analysis, Inspection, health, phytosanitary, quantity and quality certificates. This new ISBP addresses a range of subjects, for example, typing errors, mathematical calculations, drafts and how they are drawn, description of the goods in invoices and signing of bills of lading, among others.

Attend this two-day program to prevent discrepancies and ensure payment on time for all your LC transactions!
Who Should Attend:
                                             • A must for those who use Letters of Credit Operations
                                             • Document Checkers and Managers in Banks
                                             • Shipping personnel from Importers and Exporters
                                             • Those in the business of Freight Forwarding, Carriers and Insurers
                                             • Lawyers engaged in trade finance and commercial laws


Victor Tan, MBA (Strathclyde), ACIB, MInstAM is an authority in the field of trading and banking with 15 years of banking experience covering the areas of International Trade Finance, Remittances, Guarantees, Import and Export departments. He has worked with various International Banks since 1977 starting with Standard Chartered Bank, Amsterdam-Rotterdam Bank, Bangkok Bank, Royal Trust Merchant Bank and lastly Barclays Bank, where he was Deputy Head, Trade Finance.

Since 1992 he has been conducting highly specialized training in Jakarta, Bangkok, Singapore and Philippines --including Bangko Sentral ng Pilipinas and US Embassy in Manila. He also holds a Master of Business Administration degree from University of Strathclyde, UK and is a qualified Life Associate Member of the Chartered Institute of Bankers, London. He will teach everything one has to know on how to use various types of letters of credit for one's business advantage.

   Limited Seats Only, Pre-Registration Required

   Training Investment is P16,580 inclusive of Meals, Resource Kit, & Certificate of Attendance

Avail of the 5% Group discount if you register 3 or more and 5% Early Payment Discount if you register and pay on or before July 21, 2019

   Contact Person: Jamie Borlaza
   Manila lines: (+632) 556-8968 or 69
  Manila Telefax: (+632) 842-7148 or 59
   Cebu lines: (+63 32) 512-3106 or 07
   Baguio line: (+63 74) 423-2914
   Legazpi line (+63 52) 736-0148

Effective June 1, 2013: Revised ISBP on LC Transactions

• A Comprehensive Guide for Bankers, Importers & Exporters, Lawyers, Transporters & Insurers
• Article by Article Analysis with Visual Illustrations to learn but read less on:
- Uniform Customs & Practices for Documentary Credits (UCP 600)
- International Standard Banking Practices for Examining LC Documents (ISBP 2013)

Marriott Grand Ballroom, Resorts World Complex, Pasay City, Philippines
9:00 am to 5:00 pm, Thursday & Friday, August 1 & 2, 2019

Course Outline

All it takes is just one discrepancy in Export Documentation under LC to result in Non-Payment. To avoid discrepancies, those handling Letters of Credit must know the UCP 600 & ISBP 2013 thoroughly.

Course Contents - Day 1

The revision contains major changes to rules which govern billions of dollars each year in letter of credit transactions. Uniform Customs & Practices for Documentary Credits (UCP 600) has new provisions you and your colleagues will need to know in relations to ISBP 2013:

• a leaner set of rules, with 39 articles rather than UCP 500's 49;
• a new section of "definitions", containing terms such as "honour" and "negotiation";
• a replacement of the term "reasonable time" with a definite number of days, changed practice for notice of refusal
• standards for determining compliance of documents;
• an expanded description of "original documents"
• re drafted transport articles.
• How the onus is now on the issuer to be precise in their LC terms in order to reduce the element of interpretation
• New, final definitions of key terms
• Clarifications on when an amendment to a credit has been accepted and is binding on the beneficiary
• Removal of Inconsistency concept to introduction of concept of "not in conflict, need not be identical"
• What's new in ISBP 2013?
• Copies of documents, do they need to be signed?
• Goods description on all documents versus the invoice description, must they be similar?
• Definition of when an Incoterm must be reflected in the documents
• What documents need to be dated and signed?, Who may be the issuer?
• What is the latest rule on the starting date of a 180-days sight draft if the presented documents are discrepant?
• Must title of a document be identical with that stipulated in an LC'?
• What is the difference between "invoice in one copy" and "a copy of invoice"?
• Must all bills of lading be marked "originals"?
• How to handle misspelling, typing errors and address different from an LC?
• Is shipment of additional goods free of charge or over-insurance a discrepancy?
• What do "stale documents and third party document acceptable" exactly mean?
• How to interpret partial and late shipment under sea, air and land transport documents?
• Many more practical and invaluable advice on air waybill, charter party bill of lading, forwarders cargo receipts and insurance documents that you must know and be familiar with.

Course Contents - Day 2

1. General Principles
2. Transport Documents
3. Multimodal or combined transport document
4. Bill of lading transport document
5. Non-negotiable sea waybill transport document
6. Charter party bill of lading transport document
7. Air Transport document
8. Road, Rail or Inland Waterway transport documents
9. Other Documents
10. Drafts and calculation of maturity date
11. Invoices
12. Insurance documents and coverage
13. Certificate of Origin, Packing List, Weight List, Beneficiary's Certificate, Inspection (Analysis)
14. Case Studies

TRAINING FEE PER PERSON: P16,580 (Fee covers Meals, Resource Kit, Certificate of Attendance)


Less 5% for early registrants (on registrations made on or before July 1, 2019)
Less 5% for early payment (if made on or before July 21, 2018)
Less 5% for group registration (minimum of 3 participants)

REGISTER NOW and avail of the Early Payment & Group DISCOUNTS
Share |
Download: Flyer - Black&White (.PDF 363kb)
                         Course Outline (.PDF 217kb)