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Incoterms 2010 seminar series  




ISP Master

Price: $450.00
Item No.: TR106

ISP Master
*Once the order is completed, log in information will be emailed to customers within 2 business days.


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

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.

The course content is written by Professor James Byrne of the Institute of International Banking Law & Practice (IIBLP) in conjunction with Gary Collyer, Technical Adviser to the ICC Banking Commission.

The training is divided into 4 Modules:

Module 1 – Essentials
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
This module provides an article-by-article analysis of the ISP98 rules and also examines the comparable provisions of UCP 600.  Areas covered:

  • 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
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
  • issuing a refusal notice

Module 4 - Assessment
This module provides a comprehensive assessment for trainees to test their knowledge of standby credit practice and ISP98.  


The course content is written by Professor James Byrne of the Institute of International Banking Law & Practice (IIBLP) in conjunction with Gary Collyer, Technical Adviser to the ICC Banking Commission.


As the training is delivered online, each member of your staff can be trained to an ICC approved standard regardless of location. Every trainee receives an ‘ICC Certificate of Achievement’ on completion of the course indicating their personal results.

The training courses come complete with a Learning Management System so organizations can easily manage allocation of the training and keep track of trainees’ progress and results.

Value for money
With prices starting at $450.00 per trainee – and discounts for volume orders – ISP Master is a very cost effective way to train your staff.


Discounts are offered for multiple orders as follows:

1 to 9 trainees - $450.00 per trainee
10 to 49 trainees - $375.00 per trainee
50+ trainees - $300.00 per trainee

Special Pricing!  You can alternatively purchase the full suite of 5 training courses in traditional trade products for $1,200 (a $1,050 DISCOUNT on the list price of purchasing the 5 courses)

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