Understanding Trade Terms Related to “Costs Additional to the Freight” involved in Sea Shipments In international trade, when goods are transported by sea, the cost of carriage may involve not only the basic freight but also other associated handling costs such as loading, unloading, stowage and related port operations. Transport documents may mention these additional…

CDCS New Exam Pattern – Effective September, 2025 This information provides a summary of the revised CDCS examination pattern, applicable from September 2025 onwards. The contents have been compiled based on the latest official CDCS Qualification Specification published by LIBF. 1. Structure of the Qualification The CDCS qualification consists of two separate mandatory units. Both…

Pre-carriage in ISBP for Bills of Lading: Need for a Rethink? Author: Adv. Balaji KAS Objective and Scope This article analyses how the inclusion of the pre-carriage field in ISBP has influenced the interpretation of onboard notation requirements under UCP rules. It traces the issue back to UCP 500 wording, explains how the resulting confusion…

Franchise, Excess Deductibles, and Irrespective of Percentage Clauses in Marine Cargo Insurance Introduction The fundamental purpose of insurance is to cover abnormal losses, not ordinary or expected ones. For instance, health insurance is intended to meet the expenses of major illnesses, but not routine outpatient visits. Marine cargo insurance works on the same principle: it…

Certificate in Documentary Credits — A Gateway to Career Progression The Certificate in Documentary Credits, offered by IFTS Learning, is the best affordable alternative to international certifications, carefully designed to help learners achieve true mastery over documentary credits. Built especially for freshers and those new to trade finance, this program takes participants from the very…

Advance Your Trade Finance Career – Move to Documentary Credits in Just 2 Months In today’s competitive trade finance environment, Documentary Credits (Letters of Credit) remain one of the most respected and demanding domains. For professionals currently working in collections, payments, or open account operations, making a functional shift to LC operations offers a powerful…

Compliance is a Shared Responsibility: No Conflict with the Independence of Letters of Credit Author: Adv. Balaji KAS Introduction In the global trade finance landscape, compliance has become an increasingly critical and regulated function. Continuous Customer Due Diligence (CDD), Know Your Customer (KYC), Anti-Money Laundering (AML), Countering the Financing of Terrorism (CFT), and sanctions screening…

Banks Deal with Documents, Not Performance – A Principle, Not a Loophole Understanding Article 5 of UCP 600 in Context Article 5 of UCP 600 succinctly states:“Banks deal with documents and not with goods, services or performance to which the documents may relate.” This may appear restrictive at first glance, but in reality, it represents…

Overcoming Challenges in CDCS Preparation for Working Professionals CDCS Training in Malaysia | Dubai | Singapore | China | Hong Kong | Egypt | Worldwide The Certificate for Documentary Credit Specialists (CDCS) is a globally recognized qualification awarded by the London Institute of Banking and Finance (LIBF) and supported by the International Chamber of Commerce…

Documents Acceptable as Presented: Unresolved Ambiguities in ISBP A19-g Author: Adv. Balaji KAS Objective: To highlight a long-standing concern arising from the interpretation of the expression “Documents acceptable as presented” under Paragraph A19-g of both ISBP 745 and ISBP 821, which remains unresolved since its introduction. Introduction: The expression “Documents acceptable as presented” is interpreted…