DC-PRO Mentor revolutionizes documentary credit training
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| The cash behind the paperwork |
Paris, 13 June 2001 - A unique ICC training package on documentary credits is now available to online subscribers, part of an information drive to reduce the high rejection rate for letters of credit that delays international payments and hampers trade.
The new DC-PRO Mentor service provides more than 12 hours of web-based training in the complexities of documentary credits under ICC rules governing the system worldwide. It is designed for newcomers to documentary credits who want to attain proficiency quickly.
At present, banks are rejecting 60-70% of documentary credits on first presentation because of discrepancies. ICC expert Ron Katz said: "One reason is globalization, which has brought in new players."
Mr Katz, editor of ICC's specialist quarterly newsletter "Documentary Credits Insight" added: "Documentary credits are a vital instrument in financing trade - effecting payment as goods pass from seller to buyer. It is in everybody's interest that the rules are scrupulously observed and that bankers and traders handling letters of credit get it right the first time."
DC-PRO Mentor is an interactive multimedia product that guides the user through all stages of the documentary credit cycle, f
rom the basics to practical case studies. The programme provides expert advice on standards and practice within the ICC rules, the Uniform Customs and Practice for Documentary Credits (UCP) - UCP 500 in the current version.
Using graphics, audio, interactive questions and online document examples, DC-PRO Mentor consists of three training modules, Basics, Documents and In Practice. It offers flexible subscription facilities, from six weeks to one year. Users can receive individual training or take part in a simultaneous course for a group of trainees.
DC-PRO Mentor joins a sister product, DC-PRO Focus, which provides Internet access to all the ICC banking rules and official queries about them, plus a wealth of supporting information. Focus is available separately, though there is a discount for those who order both programmes.
To sample the two DC-PRO programmes and to gain an idea of their visual, interactive qualities, visit the DC-PRO website at www.dcprofessional.com. The site is also accessible from the icon on the ICC home page.
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