Lessons From Covid-19 Induced Challenges on Document Examination (CDCS Recert)

Module-1: Preamble

            a. Introduction

            b. Impact covid-19 on trade

            c. Covid-19 impact on global supply chain

            d. Impact of covid-19 on trade growth projection

            e. UCP600 rules & Covid-19 impacts

            f.  URDG758 rules & Covid-19 impacts

Module-2: Principles

             a. Why trade must continue

            b. Trade rules not laws

            c. Effective monitoring of document & goods

            d. Reaching consensus among parties

            e. Carrying the regulators along

            f. Brainstorming among trade experts

            g. Necessity of modifying LC terms

Module-3: The Problems-1

             a. Discrepancies: Late presentation

            b. Discrepancies: Late shipment

            c. Discrepancies: Expired LC

            d. Discrepancies: Copies of document presented

            e. Discrepancies: Incomplete presentation

            f.  Delay in clearing of goods

Module-4: The Problems-2

             a. UCP600: Article-4- Credit versus contract

            b. UCP600: Article-5- Bank deal in document and not in goods

            c. UCP600: Article-14- Standard for examination of document

            d. UCP600: Article-16- Discrepant document waiver and notice

            e. UCP600: Article-35- Disclaimer on transmission & translation

            f.  UCP600: Article-36- Force majeure

Module-5: The Problems-3

             a. URDG758: Article-14- Presentation

             b. URDG758: Article-24- Non-complying demand, waiver and notice

             c. URDG758: Article-26- Force majeure

            d. URDG758: Article-28- Disclaimer on transmission and translation

            e. URC 522 sub-article 14

            f.  eUCP Version 2.0 article e14

            g. eURC Version 1.0 article e13

Module-6: The Propensities

             a. Covid-19 induced documentary fraud

            b. Common features of documentary fraud

            c. Document against payment for non-existent cargo

            d. Document against payment for non-existent cargo & ship

            e. Document against payment for low quality goods

            f. The reality of pandemic risk in international trade

Module-7: The Possibilities-1

             a. Revised drafting of LC payment terms

            b. The use of shipping guarantee

             c. The use of letter of indemnity

             d. The use of telex release

            e. Understanding the concept of express release

            f. Covid-19 induced clauses of sales & purchase agreement

Module-8: The Possibilities-2

             a. Implementing modification clause of Article-1- UCP600

            b. Implementing modification clause of Article-1- URDG758

            c. Modifying Article 14 of UCP600

            d. Modifying Article 20 of URDG758

            e. Modifying Article 16 of UCP600

            f. Modifying Article 24 of URDG758

            g. Modifying Article 36 of UCP600