EBRD e-Learning Programme

ISP MASTER

ISP Master contains over 12 hours of online training and instruction in ISP98, the rules governing the operation of Standby LCs/independent undertakings. It is designed to ensure proficiency in this area of trade finance work.


Course Contents

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 to 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.

Areas covered:

  • Scope of the rules
  • Obligations of the parties
  • Presentation
  • Examination
  • Disposal of documents
  • Transfer and assignment
  • Cancellation of a standby
  • Reimbursement obligations
  • Expiry
  • 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

This module provides provides a comprehensive assessment for trainees to test their knowledge of standby credit practice and ISP98.

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OUR Students speak for us

Here you can find some of our students feedback

  • "The best online training I have ever seen for people working in trade finance and documentary operations."

    Alexander Kim Head of Trade Finance Credit Bank of Moscow OJSC, Moscow
  • "Experienced managers, like myself, can study the latest changes in the international rules and standards at any time."

    Olena Kozoriz Head of Financial Institutions and Trade Finance at Ukreximbank, Ukraine
  • "A perfect opportunity for improvement of one's professional skills in the world of trade finance."

    Mikhail Timofeev Head of Trade and Structured Finance Transcapitalbank JSC, Moscow, Russia
  • About two-week dedicated training course she received at Commerzbank in Germany

    "A great opportunity for me to continue my professional development and establish close relationships with colleagues in other banks."

    Zaure Salimbayeva Head of Structured & Trade Finance Sector, Corporate Finance Department at Bank CenterCredit JSC, Kazakhstan