A highly interactive training course on

Understanding International Payment Systems: URC 522 & UCP600

Managing Payments, Risk & Liquidity

Course Schedules

Dubai

03-07 Feb 2025

$5,950

Dubai

28 Jul-01 Aug 2025

$5,950

Dubai

27-31 Oct 2025

$5,950

Training course overview

In an increasingly volatile and competitive global market, negotiating and managing international payments are crucial for maintaining efficiency, liquidity, and profitability. It is essential to understand the nature and legal aspects of the ICC Uniform Rules for Collection (URC 522) and the ICC Uniform Customs and Practice for Documentary Credits (UCP600) / Letters of Credit.

This Coventry Academy training course offers a comprehensive analysis of these critical international payment systems, covering procedures, legal protections, and obligations. The course is designed to equip delegates with the knowledge and skills needed to effectively manage risks for both importers and exporters.

The training will enable participants to negotiate and manage appropriate payment methods, reduce risk, and manage liquidity while remaining competitive in a volatile global market. It covers key principles, concepts, and best practices, and includes interactive analysis and evaluation of case studies to enhance practical skills.

This Coventry Academy training course will feature:

An Evaluation of the Major Risks of International Trade
A Detailed Examination of ICC Uniform Rules for Collection (URC 522)
A Detailed Examination of ICC Uniform Customs and Practice for Documentary Credits (UCP600)
Future Payment Systems and Regulation
The Essential Methods of Reducing Financial Risk

What are the goals?

By the end of this Coventry Academy training course, participants will be able to:

Gain a detailed understanding of Understanding ICC Uniform Rules for Collection (URC 522) and ICC Uniform Customs & Practice for Documentary Credits (UCP600)/Letters of Credit
Be able to select the most appropriate method of payment in given situations in view of their cost/benefits
Be able to negotiate and manage appropriate methods of payment in given situations to reduce risk and manage liquidity whilst remaining competitive in a volatile global market
Be able to examine the legal and regulatory framework: international protocols/conventions
Evaluate the latest developments and upcoming payment systems

Who is this training course for?

This Coventry Academy training course is suitable to a wide range of professionals but will greatly benefit:

Those responsible for negotiating, managing or processing international payments either as exporter, importer or contractor.
Bank officials who deal with international payments, finance/liquidity issues or exchange rate problems faced by their clients.
Staff responsible for international transactions
Staff responsible for exchange rate risk management
Managers dealing directly or indirectly with international payments, liquidity/finance and exchange rate risk who wish to increase their understanding and awareness of the major issues and on-going development

How will this training course be presented?

This Coventry Academy training course will utilise a variety of proven adult learning techniques to ensure maximum understanding, comprehension and retention of the information presented. This includes the evaluation of case studies from the real world relevant to the delegates industry, videos, discussions and simulations. This will ensure that delegates leave with knowledge and transferable skills to benefit their workplace and personal career goals.

Course Outline

Day One: The Market & Risks of International Trade

Global Trade
The Major Problems & Risks of Trading Internationally
Managing Risks of International Trade
International Jurisdiction Protocols or Conventions: ICC International Chamber of Commerce regulations
The Major International Payment Systems
Future Payment Systems

Day Two: Collections & Letters of Credit

The Procedures
The Role and Responsibilities of those involved
The Risks and Benefits
Types of Letters of Credit – Restricted, Transferable, Back to Back, Standby and ISP98 etc
Collections v Letters of Credit v Bank Guarantees
How to Avoid the Risks

Day Three: Understanding ICC Uniform Rules for Collection (URC 522)

D/A v D/P
Documentation
URC 522 – a detailed understanding
Safeguarding against Risks
URC explained
Associated Finance

Day Four: Uniform Customs & Practice for Documentary Credits (UCP 600)

Scope and application of the rules (Article 1). Definitions and interpretations (Articles 2 and 3)
Obligations and liabilities (Article 4 to 13)
Examination and dealing with documents (Article 14 to 17)
Documents including commercial invoice, transport documents and insurance document (Article 18 to 28)
Miscellaneous Provisions (Article 19 to 33)
Disclaimers (Article 34 to 37) & Transfer and assignments (Articles 38 & 39)

Day Five: Future Payment Systems

What does the Future Hold?
UCP 600 Revisions
ICC recommendation and guidance papers
Uniform Rules for Bank-to-Bank Reimbursements (URR 725)
International Standard Banking Practice for the Examination of Documents under Documentary Credits (ISBP 745)
UCP700