Books and Training Review
Focus: ISP Master
Publisher: coastlinesolutions.com
Publisher’s URL: http://www.coastlinesolutions.com/ISPMaster.htm
Publisher’s Descriptions
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.
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.
Trainees using ISP Master qualify for 12
PDUs towards
recertification for CDCS (Certified Documentary Credit Specialist).
Best Trade Solution’s Review
Essentials, Rules, Case Studies and Assessment; with this four module ISP Masters is another comprehensive online training program from coastlinesolutions. The course begins with ‘Essentials’ module which is further divided into three parts. With a decent flash presentation this module gives a fair idea on independent guarantees in a very easily understandable way. Some may find it the most useful part of the entire package.
The course continues with the Rules section. This is an article by article analysis of ISP98. This part was expected to be the most resourceful one and indeed this is. But only for those who haven’t read the Official Commentary on ISP98. In many places the contents are in line by line match with ISP98 Official Commentary. Precisely the contents in this module are a summary of Official commentary on ISP98. In addition the module also includes a comparison between ISP98 and UCP 600. Need to mention that the comparison is mainly considered the standby aspect of UCP600. Those who are looking for a rule by rule comparison between ISP98 and UCP600, both in the context of commercial letter of credit and standby, may find it disappointing.
The Case Studies section is perhaps the least attractive section of the entire course. This is because of difficulties one would face in having quick look at the documents. It will be a better idea to print the documents first and then go for the cases. Must say that the four given cases are not “Hard Nut to Crack” type.
Finally the assessment module which offers three attempts. It’s a simple web based MCQ assessment system.
The course includes a full text of ISP98, UCP600, UN Convention and
UCC Article 5. Free trail is available for this course but with lots
of limitations.