Certified Documentary Credit Specialist (CDCS)

What is CDCS?

CDCS is the international standard qualification for documentary credit specialists. It is a professional certification that enables documentary credit practitioners to demonstrate specialist knowledge and application of skills required for competent practice.

CDCS was developed in partnership by the ifs School of Finance and the International Financial Services Association (IFSA). It is endorsed by the International Chamber of Commerce (ICC) and was developed in consultation with industry experts to ensure that the qualification reflects best practice.

Why study CDCS?

To improve your practical knowledge and understanding of the complex issues associated with documentary credit practice
To improve your career and promotion prospects
To increase your expertise and professional value
Helps you demonstrate a level of expertise that is accredited worldwide
Can be used as part of your continuing professional development
To gain access to the benchmark professional designation 'CDCS'

Please note: Re-certification is required every three years in order to retain the CDCS designation.

Course content

Documentary credit - an overview
The sales agreement
Documentary credits - types and uses
Parties to documentary credit transactions - roles and responsibilities
Issuance and amendments
Transport documents
Other documents
Presentation, examination and settlement
Bank-to-bank reimbursements under documentary credits
Related products
Risk issues

The CDCS examination in April 2008 will include UCP 600 rules.

Find out more about UCP 600 rules.

View syllabus.

Entry requirements

There are no entry requirements. However, it is strongly recommended that you have three years' documentary credit or related experience.

Qualification level

Level 3

Study time

4 - 6 months

How do I study?

You prepare for the examination through independent study.

On registration, you will receive a detailed study text, developed by the ifs School of Finance, with approval by the ICC. You will also also receive a study guide containing sample questions, study tips and key terms to help you prepare for your examination. A new text will be available from September 2007 incorporating the new UCP 600 rules, written by Gary Collyer who chaired the ICC Working Group for the revision of UCP 500.

Preparatory and/or review courses may be available through ICC local committees or other organisations, subject to demand. Please contact your local ICC for details.

Examinations

CDCS is assessed by a three-hour multiple-choice examination (paper based), designed to test your knowledge and its application to practical situations. The examination is split into two sections:

Section A – 83 multiple-choice questions
Section B – 37 multiple-choice questions based on case studies (in-basket exercises), analysis questions and simulation exercises

Overall the examination comprises 120 questions. To pass you must achieve the required pass mark in Section B as well as achieve the overall pass mark. The pass mark for CDCS may vary from year to year to maintain an equivalent level of performance to achieve a pass. As a guide, the pass mark is usually in the region of 70%.

View your nearest examination venue.

Examination/registration facts at a glance

Deadline for first-time registrations – 31 January 2009.
Deadline for resit registrations – 28 February 2009.
Examination date – 16 April 2009.
You may defer your examination to the following year free of charge until 28 February. After this date you will have to pay an administration charge of £75.00.
You may change your examination venue up to two weeks before the exam, subject to availability.
Attendance letters are sent out three weeks prior to the examination.
Results are released within 10 working weeks of the examination date. You may access your results at www.myifslearning.com using your Username and Password. Please note, results cannot be confirmed by telephone, fax or email.
Results are double-checked before being released, and therefore a re-mark is not available.

Cost

First-time registrations (includes study text)	Cost
Registration fee	£405.00
International booking fee*	£50.00

Resit registrations	Cost
Registration fee	£250.00
International booking fee*	£15.00

* Candidates outside of the UK, US, Canada and South America are required to pay an additional international booking fee and/or resit booking fee to the ifs School of Finance.

How to register

The deadline for first-time registrations is 31 January 2009. The deadline for resits is 28 February 2009.

By post/fax - complete and return a registration form and send it to the address given on the form or fax it to +44 (0) 1227 784331. To request a registration form, please either call ifs Customer and Student Enquiries on +44 (0) 1227 818609 or email customerservices@ifslearning.ac.uk.

By phone - call ifs Customer and Student Enquiries on +44 (0) 1227 818609. Please have your VISA/MasterCard/debit card handy when you call.

Chinese candidates

Candidates from China should send their registration forms to Jiangyunzhu(Helen), China Chamber of International Commerce, 1 Fu Xing Men Wai Street, Beijing 100860, China. If you have any queries, please email jiangyunzhu@ccpit.org or telephone (+8610) 8807 5504 or fax (+8610) 6804 1275.

Indian candidates

Candidates from India should send their registration forms to ICC India, Federation House, Tansen Marg, New Delhi, India 110001. If you have any queries please email iccindia@iccindiaonline.org or telephone 91 11 23738760.

Korean candidates

Candidates from Korea should send their registration forms to Mr Jong Duck Hong, Korea International Finance Institute, Kifi Building, 26-6 Namsan-dong 2-ka, Chung-ku, Seoul 100-042, South Korea. If you have any queries please email ahj@kifi.co.kr or telephone (+82) 2 778 0808.

US, Canadian and South American candidates

Candidates from the US, Canada and South America should contact the International Financial Services Association (IFSA) for registration and fee information. You can contact IFSA via www.cdcs.org.

More information

Call Customer and Student Enquiries on +44 (0) 1227 818609 or email customerservices@ifslearning.ac.uk.