Documentary Credits, Letters of Guarantee and Bank Payment Obligations Publication Number 750

OSOOL for Training and Consulting organized a training program entitled: (Documentary Credits, Letters of Guarantee and Bank Payment Obligations. Publication number 750) in Amman-Jordan during the period 11-14/10/2015 with a considerable participation. The program was attended by a group of workers from Bank Al Etihad, The Arab Bank and Jordan Ahli Bank. The program was designed to introduce of Documentary Credits, parties involved and the determining of each party’s responsibilities and commitments. Besides, the program was meant to increase the participants’ efficiency in recognizing the documentaries required, how to prepare those documentaries, the uniform documentary credits rules (publication NO. 600) as well as the standard of documentary credits examination (the new publication number 745). Also, the participants got acquainted with the buyer’s and seller’s responsibilities and commitments when applying the terms of delivery INCO-terms 2010 and how to link those terms with international contracts and the new Bank Payment Obligations (publication number 750). And by the end of the program, the participants acquired the practical skills required in the implementing of Letters of Guarantee and in determining the responsibilities and commitments of banks. In addition, the participants were able to apply the list of the international norms of the letters of guarantee in accordance with The Uniform Demand Guarantee Rules URDG 758 issued by the International Chamber of Commerce.
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