Chambers services
New qualification launched for demand guarantee specialists
ICC and the Institute of Financial Services (IFS) have today launched a new level-4 qualification for demand guarantee specialists. The Certificate for Specialists in Demand Guarantees (CSDG) will be delivered and examined by the Institute in partnership with ICC, who will provide content and source material for the qualification.
The launch of CSDG marks another important step in the provision of a key set of professional standards for international trade professionals, following the renewal of the partnership between the Institute and ICC in relation to the Certificate for Documentary Credit Specialists (CDCS®).
CSDG will provide a globally-recognized qualification for demand guarantee specialists – the professionals who manage and oversee the often complex processes relating to international trade guarantees – and will be available for registrations from January 2014.
CSDG will cover all of the key areas and aspects that demand guarantee specialists are expected to understand and practice. This includes the main features of a demand guarantee, the industry rules, standards and guidelines that govern guarantees and standby letters of credit, the processes and challenges involved in demand guarantee transactions and the roles, and obligations of the parties to a standby letter of credit and the relationships between them.
Anne Kiem, CEO of the Institute said: “The launch of CSDG by the UK’s leading professional financial services body, in partnership with the world’s foremost business organization represents an important step in strengthening and enhancing the governance of international trade. It also provides significant global recognition of the highly technical work that demand guarantee specialists undertake in an increasingly complex area.”
Thierry Senechal, Senior Policy Manager of the ICC Banking Commission said: “The Certificate for Specialists in Demand Guarantees is a positive development for those wishing to achieve a recognized qualification in this often complex discipline. Its introduction, in partnership with ICC, alongside the long established and respected CDCS qualification is welcomed and strongly supported. I am delighted that the core text to be used for this qualification is our Guide to ICC Uniform Rules for Demand Guarantees URDG 758.”
For more information visit CSDG
