Guarantees & Standby - Letters of Credit

Redcliffe’s Guarantees and Standby Letters of Credit course is delivered by an international consultant and lecturer in trade finance. He serves as the Secretary to the Banking Commission of the ICC Czech Republic, which he regularly represents at the ICC Banking Commission.

He has worked for many leading local and international banks in various positions, including trade finance specialist, head of trade finance, trade finance risk manager, and in-house trainer.

He has been deeply involved in the revision of UCP (Uniform Customs & Practice for Documentary Credits) as a member of the UCP 600 Consulting group, comprised of over forty experts from all over the world.

Our letters of credit course trainer chaired the working groups of the ICC CR, which revised translations of UCP 500, UCP 600, eUCP, ISP98, URDG 758, ISDGP (International Standard Demand Guarantee Practice) and other Banking Commission documents as well as Incoterms 2010 and Incoterms 2020 into the Czech language.

He was involved in the development of URBPO (Uniform Rules for Bank Payment Obligations) as a member of the ICC Banking Commission Consulting group on BPO (business process outsourcing), and is also a member of:

• The ICC Task Force on Guarantees
• Global Supply Chain Finance Forum
• A member of the ICC Banking Commission Group of Experts, which drafted the official ICC Banking Commission Opinions on ICC Rules (2010-2011)
• In October 2014, the trainer was appointed to the position of the Secretary of Commission on Commercial Law and Practice of the ICC Czech Republic
• The appointed ICC CR expert to reply to enquiries related to Documentary Credits (D/Cs) and Structured Trade Finance (STF), as well as develop technical assistance consultancy services of ICC CR for banks, carriers, insurance companies and traders
• A DOCDEX Expert of the ICC Centre for Expertise with the ICC International Arbitration Court in Paris
• He is also an arbitrator with the Vilnius Arbitration Court, Lithuania.

He has been an active trainer under the Global Trade Finance program of the IFC (International Finance Corporation – a member of the World Bank Group) and similar trade finance facilitation programs of other DFIs (Development finance institutions). He is the lead tutor in the Finance of International Trade with the eBusiness School International.

This trainer has delivered numerous seminars on the Incoterms 2000, Incoterms 2010 and Incoterms 2020, documentary credits, issuance of bank guarantees, standbys and other trade finance services in the Czech Republic and globally. As an international trade finance consultant and lecturer, he has frequently lectured for the Banking Institute, Institute of Foreign Trade Transport & Forwarding, ICC NCs, the Economic Chamber of Commerce of the Czech Republic and others.

Redcliffe standby letter of credit course specialist has led and actively participated in several learning interventions held in India, Sri Lanka, Nepal, Singapore, Zambia, Uganda, Ghana, South Africa, Mozambique, Nigeria, U.K., USA, Ireland, Turkey, Russia, UAE, Vietnam, Mongolia, China and in more than 65 countries of the world. He is the author of best-selling books on documentary credits and a member of the editorial board for the magazine Documentary Credit World.

The main purpose of Standby Letter of Credit Training is to familiarise you with the main aspects of the guarantee (standby L/C) process, including standard, more advanced situations, problematic issues and current topics in the field of demand guarantees and standby L/C practice.

Particular focus will be on the proper drafting of the terms and conditions of the instruments.

This guarantees and standby letters of credit course will provide case studies, examples, and discussions, with the active participation of all participants to cement the learning.

Material relevant to the course will be distributed, and a certificate of attendance will be delivered to all those who complete the course.

A good working knowledge and familiarity with guarantees is recommended to derive the maximum benefit from this course.

• This is a practical workshop conducted by a leading international trade finance trainer.
• Master the main aspects of the demand guarantees and standbys from the international best practices point of view.
• Understand the most common situations when demand guarantees and standbys are used.
• Be aware of the risks involved and how to mitigate them.
• When to most appropriately apply ICC (International Chamber of Commerce) Rules.
• Gain up-to-date knowledge on the recent developments in ICC Opinions, important Docdex cases, and significant court cases.

This guarantees and standby letters of credit course is a ‘must know’ for:

• Trade finance practitioners, especially those running bank guarantee and standby L/Cs transactions day-to-day.
• Corporate bankers and relationship managers, providing customers with guarantees and standbys.
• Middle office professionals who manage or oversee the execution of clients’ guarantee and standby facilities, for example, tender bank guarantees.
• Legal and other advisers involved in corporate banking.
• Due Diligence providers (audit, compliance) who want a closer understanding of the guarantee and standby L/C operations.

Redcliffe Training’s Standby Letter of Credit course is an advanced practical workshop which closely explores international guarantees.

The workshop has been developed to provide you with a very comprehensive coverage of the subject that will explain all the main aspects of using guarantees and standbys in international business under ICC Rules – URDG 758 for Demand Guarantees and UCP 600 or ISP 98 for Standbys. The most significant recent ICC Banking Commission Opinions and DOCDEX (Documentary Credit Dispute Resolution Expertise) cases will also be covered in the lectures.

Participants will learn how to issue and use the security instruments in their daily work. There will be plenty of various case studies, examples and debates on the issues.

This guarantees and standby letters of credit course is very focused and practical. The workshop deals with both the standard and more advanced situations and practical issues concerning demand guarantees and standbys following best practices as reflected in ICC rules and publications. Participants will take away all relevant main UCP 600, URDG 758, and ISP 98 provisions practically, i.e. by applying them through various case studies and debates on the subject.