Certificate for Documentary Credit Specialists (CDCS)

The Certificate for Documentary Credit Specialists (CDCS) is a professional qualification that is recognised worldwide as a benchmark of competence for international practitioners.

The CDCS has been developed in consultation with industry experts to make sure that the qualification reflects best practice. It was created by the International Financial Services Association (IFSA) and The London Institute of Banking & Finance and was first examined in 1999. CDCS is now managed by The London Institute of Banking & Finance.

The CDCS is a RQF* Level 4 qualification that is recognised worldwide as a benchmark of competence in documentary credits. It enables documentary credit practitioners to demonstrate practical knowledge and understanding of the complex issues associated with documentary credit practice.

Studying CDCS will enable you to understand:

  • Documentary credits – types, characteristics and uses, including standby credits
  • Rules and trade terms, including UCP 600, ISP98, ISBP 745, Incoterms® 2010 and URR 725
  • Parties to documentary credit transactions and their roles and obligations
  • Types and methods of payment / credit used in documentary credit transactions, including the concept of autonomy
  • Types of transport, commercial and financial documents used in documentary credit transactions
  • Risk issues, including types of risks, control and possible mitigations
  • Related products, including letters of indemnity, air way releases and steamship guarantees
  • Implications of breaching rules including money laundering and terrorist financing

Why Study CDCS?

  • It enables you to demonstrate a level of expertise in documentary credits that is recognised worldwide
  • It improves their knowledge and understanding of the complex issues associated with documentary credit best practice
  • It helps develop the skills to apply knowledge in the workplace and to perform at a high level
  • It gives you the right to add the professional designation ‘CDCS’ after their name for the three year validation cycle
  • It improves career and promotion prospects

Progression

Upon completion there are a number of pathways available:

Certificate for Specialists in Demand Guarantees (CSDG®) is the qualification for professionals who use demand guarantees in their everyday work. The certificate provides the key knowledge and skills needed to operate effectively in a highly technical area of international trade.

Certificate in International Trade and Finance (CITF®) is designed to enable trade, export and commodity executives to gain a thorough understanding of key procedures, practices and legislation in trade finance on an international level.

The CDCS qualification can also contribute to the Professional Diploma in Banking & Finance

Upon completion, ICC Academy will award CSDG holders with credit towards the Certified Trade Finance Professional to provide you with a pathway for completion of this advanced Certificate.

What is the Assessment Format for CDCS?

Assessment for CDCS consists of a 3 hour multiple-choice examination, designed to test knowledge and its application to practical situations. The examination paper consists of 70 multiple-choice questions, 3 in-basket case studies and 3 document checking simulations. The examination paper is split into 2 sections:

  • Section A – 60 multiple-choice questions
  • Section B – 10 multiple-choice questions, three in-basket exercises each with five linked multiple-choice questions, and three simulation exercises

CDCS is examined in over 30 countries each year with examinations given in paper format at designated international centres.

View the examination venues.

Test Your Knowledge

The CDCS examiners have designed a short online quiz to give you an idea of the type of standalone multiple-choice questions asked and the level of knowledge needed to be successful in the CDCS examination. CDCS mini quiz.

for more information please visit http://cdcs.libf.ac.uk/