CDCS
Certified Documentary Credit Specialist
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What is CDCS The Certified Documentary Credit Specialists (CDCS ) is a professional qualification recognized worldwide as a benchmark of competence for international trade practitioners. It enables documentary credit practitioners to demonstrate practical knowledge and understanding of the complex issues associated with documentary credit practice. Achieving CDCS allows you to add the professional designation ‘CDCS’ after your name, improving your career and promotion prospects. For Trade Practitioners In a highly competitive global market, the CDCS designation puts you head and shoulders above your peers by demonstrating your commitment to the industry and deep knowledge as a trade professional. LONDON INSTITUTE OF BANKING AND FINANCE & BAFT The CDCS program has been developed and is continually reviewed by BAFT and The London Institute of Banking & Finance and industry experts to ensure that the certification reflects industry standards and best practices. CDCS is the international standard for documentary credit specialists, based on the ICC rules. Why Study CDCS? The benefits of continuing professional development include the following: • It enables you to demonstrate a level of expertise in documentary credits recognized worldwide • It improves your knowledge and understanding of the complex issues associated with documen tary credit best practice • It helps you develop the skills needed to apply your knowledge in the workplace and maximize your performance • It helps you to learn how to comply with regulatory requirements • It fosters innovation in customer service and improves your customer relationships • On completion of the CDCS qualification you will be able to use the designation ‘CDCS’ after your name for three years and be included on the CDCS Registry. WHY BANKS AND BUSINESS ORGANISATIONS VALUE CDCS QUALIFICATIONS : Companies striving to find and recruit new staff having CDCS Qualifications because : 1) Certificate for Documentary Credit Specialists are recognized as the Highest Qualified International Trade Practitioners and they demonstrate the highest level of knowledge and understanding of the complex issues associated with documentary credit practice. 2) The Benefits of CDCS Certification – – for Financial Institutions. With a team of CDCS certified professionals, banks are able to showcase to prospective clients their capabilities to handle letters of credit and resolve challenging questions and issues. Their business relies on the delivery of quality services for banking and corporate clients. CDCS certification can assure their clients that their professional trade group is deeply knowledgeable and that their business transactions are safe, secure, and technically sound.
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3. As per Leadership and Learning Development Executive at Global Financial Institution “CDCS is seen as an elite certification, demonstrating our team’s expertise to our clients. But achieving and maintaining the CDCS certification also serves as a critical career developmental program for our highly trained employees to expand and deepen their own capabilities, lead their teams, and grow our business. Even studying for the rigorous CDCS exam helps increase our employees’ product knowledge. From a character trait standpoint, our CDCS professionals are self-motivated, pay high attention to detail, demonstrate high energy and are able to look at details from global perspective – all qualities valued by our clients.” Key Facts about the CDCS Exam 1. 2.
Exams are held in April and October each year The exam is a three-hour, paper-based exam
Section A – 60 multiple-choice questions Section B – 10 multiple-choice questions • In-basket exercises each with 5 linked multiple-choice questions • and 3 simulation exercises Qualification grading The overall qualification will be graded Pass / Distinction. You must achieve a mark of 70% overall (and 60% for Section B). The qualification grade boundaries are as follows: Grade Raw mark Pass 70–94 Distinction 95–100 Re-sit attempts You are allowed to resit the unit in accordance with the published London Institute of Banking & Recertification To ensure that CDCS team members stay on top of the latest industry developments and trends, the CDCS program requires recertification every three years. CDCS professionals must participate in an ongoing program of continuing professional development. CDCS professionals earn personal development units (PDUs) by attending conferences and workshops and completing online courses in specific areas of international trade finance and documentary credit practice.
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CDCS® develops core knowledge and understanding of the following areas: Documentary credits - types, characteristics and uses, including standby credits • Rules and trade terms, including ISBP 745, ISP 98, UCP 600, URR 725 and Incoterms 2010 • Parties to documentary credit transactions and their roles and obligations • Types and methods of payment / credit used in documentary credit transactions. Types of transport, commercial and financial documents used in documentary credits • Risk issues, including types of risk, control and mitigants • Related products, including letters of indemnity, air way releases and steamship guarantees • Implications of breaching rules related to financial crime including money laundering and terrorist financing CDCS Course preparation at Zabeel International: Zabeel International offers intensive 60 hours course for preparation of CDCS exam. Program Outline : 1 The history and use of documentary credits 2 The role of the International Chambers of Commerce and the development of the UCP 3 Documentary credits and other methods of settlement 4 Definitions 5 The sales contract and INCOTERMS 6 Pre-issuance considerations and requirements 7 Issuing a documentary credit 8 Amendments from an issuing bank perspective 9 Advising a documentary credit 10 Confirming a documentary credit 11 Advising amendments to a beneficiary 12 Document characteristics and preparing documents 13 Examining documents 14 Examining transport documents 15 Examining insurance, financial, commercial and official documents 16 The role of the nominated bank 17 Honour or negotiation 18 Refusing documents 19 Transferable credits, back-to-back credits and assignment of proceeds 20 The features of documentary credits 21 Standby letters of credit 22 Bank-to-bank reimbursements and reimbursement from aid agencies 23 eUCP 24 Dispute resolution
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