This online course will ensure proficiency in the use of ISP98. It was written by Professor James Byrne of the Institute of International Banking Law & Practice and Gary Collyer, Technical Adviser to the ICC Banking Commission, and Chair of the UCP 600 Drafting Group
The training is divided into 4 Modules:

Module 1: Essentials Module

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

Module 2: Rules Module

This module provides an article-by-article analysis of the ISP98 rules and also examines the comparable provisions of UCP 600, including:
- Scope of the rules - 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 Module

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 Module

After going through the three teaching and exercise modules the trainees go through a comprehensive assessment to test their knowledge of standby credit practice and ISP98. Trainees who complete ISP Master qualify for 12 PDUs towards recertification for the Certified Documentary Credit Specialist (CDCS) accreditation offered by BAFT-IFSA and IFS and get a personalized ICC Certificate of Achievement.

Costs of a one-year access to the ISP Master

300€ per trainee

Volume discounts as follows:
10 to 49 trainees - 250€ per trainee
50+ trainees - 200€ per trainee
Invoicing and payment are dealt with by our online training partner Coastline Solutions.