Course Outline - Center for Global Best Practices

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Revised ISBP 745 (International Standard Banking Practices for Examination of ... The new ISBP – Examination of documents under Documentary Credits:.
In collaboration with

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Revised ICC Rules on Bank Guarantees & Standby Letters of Credit FOR BANKERS, IMPORTERS, EXPORTERS, INVESTORS & LAWYERS Featuring Uniform Rules for Forfaiting 800, Uniform Rules on Bank Payment Obligations, Uniform Rules on Demand Guarantees 758

9:00 am to 5:00 pm Wednesday & Thursday, February 26 & 27, 2014 Edsa Shangri-La Hotel, Mandaluyong City, Philippines

Day One, 26 February 2014 Topic: Bank Guarantees and Standby L/C with Focus on Practical Usage of Independent Banking Security Undertakings Practical seminar on bank guarantees and standby letters of credit – the relevant ICC rules in particular. Workshop will focus on practical usage of these banking instruments and main issues. Topics: Introduction of Bank Guarantees and Standby Letters of Credit: o

o

Main issues in bank guarantee operations from practical point of view: o Wording, o Claims, o Extend or Pay claims; o Examination of presentations Practical examples, common mistakes in practice asnd how to avoid them

The new URDG 758 – Rules for independent bank guarantees in practice o o o o o o o o o

Application of the Rules Direct v. Indirect Guarantee – Guarantee and Counter-Guarantee Issuance of bank guarantees, content of the instructions and guarantees, Advising of guarantees, Amendments, Liability of the Guarantor, Demands under the URDG 758 guarantee, Extend or Pay claims, Examination of demands and documents, Transfer v. Assignment Transfer under URDG 758, Assignment under URDG 758 Disclaimers, Governing Law and Jurisdiction Other questions, debates

Standby Letters of Credit according to UCP 600 & ISP 98 o o o o

Standby Letters of Credit: Main characteristics Main difference between commercial and standby letter of credit, Cycle, main stages Standby Letters of Credit under UCP 600

o o o o

Standby Letters of Credit under ISP98 Standby L/C under UCP 600 and ISP 98 – side by side comparison ICC Banking Commission Opinions related to Standbys and Guarantees Standby Letter of Credit or Bank Guarantee?

Day Two, 27 February 2014 Revised ISBP 745 (International Standard Banking Practices for Examination of Documents Under Documentary Credits – Best Practices, URF 800 (Uniform Rules for Forfaiting), URBPO (Uniform Rules for Bank Payment Obligations) Topics:

The new ISBP – Examination of documents under Documentary Credits: o o o o

Examination documents as per new ISBP 745 – Main changes Questions and Answers Case Studies and Examples Other Questions, Debates

New ICC – IFA Rules for Forfaiting o o o o o o

How forfaiting operates Main rules: URF 800 Primary and secondary markets Master Agreements and how to use them Main issues in forfaiting operations Discussion

New ICC Rules on Bank Payment Obligations - BPO o o o o

Open account assisted by banks How BPO operates Use of BPO in practice, products Debates

ICC Uniform Rules on Demand Guarantees The revision of ICC Uniform Rules for Demand Guarantees (URDG 758) creates a new set of independent guarantee rules for the twenty-first century. The new URDG are clearer, more precise and more comprehensive than their predecessor, URDG 458. ICC Uniform Rules for Forfaiting - URF 800 The value of the forfaiting market is estimated at more than 300 billion USD annually. Created by experts for experts, URF 800 contains best practice, clear definitions and practical model agreements for anyone involved in forfaiting transactions. Uniform Rules on Bank Payment Obligations – URBPO Bank Payment Obligations enable banks to mitigate the risks associated with international trade to the benefit of both buyers and sellers. They enable flexible financing propositions across the supply chain, from pre-shipment to post-shipment. The world’s first rules on BPOs will help harmonizing Supply Chain Finance practices and foster better understanding of those innovative practices. International Standard Banking Practice – ISBP 745 To reflect current best practice and recent developments in the world of trade finance, the ICC Banking Commission has now updated the successful International Standard Banking Practice (ISBP). This publication will greatly help harmonize practice worldwide and thus facilitate the flow of world trade. If you use documentary credits and other trade finance products in your daily job, you should definitely have a copy on your bookshelf.

Seminar Contact Person: Anna Andaya – Program Leader, Center for Global Best Practices Manila Lines: (+63 2) 556-8968 or 69 | Manila Telefax: (+63 2) 842-7148 or 59 Cebu Lines: (+63 2) 512-3106 or 07 | Email: [email protected]

Website: www.cgbp.org