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CDCS simulations - 2024 - Specimen A
CDCS simulations - 2024 - Specimen A
CDCS simulations - 2024 - Specimen A
®
Specialists (CDCS ) – 601/1159/8
Instructions to candidates
1. You can print this document out before answering the Specimen Paper B questions. Please
note: Specimen Paper B is only available in an electronic format.
2. The simulation documents will also be available within the specimen paper itself.
The London Institute of Banking & Finance is a registered charity, incorporated by Royal Charter.
The International Chamber of Commerce (ICC) is the largest, most representative business organization in the world.
This qualification is regulated by the regulatory authorities for England and is incorporated into the Regulated Qualifications Framework
(RQF) at Level 4.
Principles and Practices of Documentary Credit Transactions Specimen Paper A – Simulation
SIMULATION 1
MT700
31D: DATE AND PLACE OF EXPIRY 01 JULY XXXX, ROTTERDAM, THE NETHERLANDS
45A: DESCRIPTION OF GOODS AND/OR 1 UNIT ''DE GRAFF'' BRAND ROTARY CUTTING
SERVICES MACHINE , TYPE 500, WITH ALL NECESSARY
SPARE PARTS
CUSTOMS TARIFF NUMBER 8462.8000
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Principles and Practices of Documentary Credit Transactions Specimen Paper A – Simulation
78: INSTR TO PAYG/ACCPTG/NEGOTG BANK WE SHALL REIMBURSE YOU ON THE MATURITY DATE
IN ACCORDANCE WITH YOUR INSTRUCTIONS
PROVIDED THAT DOCUMENTS IN STRICT CONFORMITY
WITH THE TERMS AND CONDITIONS OF THIS DOCU-
MENTARY CREDIT ARE DULY PRESENTED AT YOUR
COUNTERS.
Page 3 of 12 SpecimenA/PDT
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Principles and Practices of Documentary Credit Transactions Specimen Paper A – Simulation
Commercial invoice
TO:
FACTORING A.S. ORIGINAL
1, BAHAR SOKAK
ISTANBUL, TURKEY
DESCRIPTION OF GOODS:
TYPE 500
WE CERTIFY THAT THE MACHINE IS BRAND NEW AND WAS NOT USED BEFORE
PRICE:
ROTARY CUTTING MACHINE EUR 180,000
SPARE PARTS EUR 20,000
TOTAL CIP HALKALI FREE ZONE, ISTANBUL EUR 200,000
Page 4 of 12 SpecimenA/PDT
Principles and Practices of Documentary Credit Transactions Specimen Paper A – Simulation
Country TURKEY
4 Place and date of taking in charge of the goods 18 reserves and remarks by the carrier
Place HAARLEM
CMR nr. 100
14 Reimbursement
15 Freight instructions 20 Special agreements
FREIGHT PREPAID
Page 5 of 12 SpecimenA/PDT
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Principles and Practices of Documentary Credit Transactions Specimen Paper A – Simulation
SIMULATION 2
MT700 Issue of a Documentary Credit
Issuing Bank:
INTERCONTINENTAL PACIFIC BANK
BANGKOK
THAILAND
Applicable Rules:
UCP LATEST VERSION
Applicant:
SIMPLY IMPORTS LTD
BANGKOK
THAILAND
Beneficiary:
UTILITY SUPPLIERS LTD
LONDON
UK
Amount:
USD 320,000.00
Available With:
WORLDWIDE INTERNATIONAL BANK BY NEGOTIATION
ON ISSUING BANK
Partial Shipments:
PROHIBITED
Transhipment:
PROHIBITED
Port of Loading:
ANY EUROPEAN PORT
Port of Discharge:
BANGKOK PORT
Page 6 of 12 SpecimenA/PDT
Principles and Practices of Documentary Credit Transactions Specimen Paper A – Simulation
Description of Goods:
10000 PIECES OF WOODEN CHAIRS
Documents Required:
+ SIGNED COMMERCIAL INVOICE IN THREE COPIES ISSUED IN THE NAME OF SIMPLY IMPORTS
LTD BANGKOK
+ BILLS OF LADING ISSUED TO ORDER AND BLANK ENDORSED MARKED FREIGHT PAID AND
NOTIFY APPLICANT
+ INSURANCE POLICY/CERTIFICATE FOR CIF VALUE OF THE GOODS PLUS 10 PERCENT
Charges:
ALL BANK CHARGES ARE FOR THE APPLICANT'S ACCOUNT
Confirmation:
CONFIRM
Page 7 of 12 SpecimenA/PDT
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Principles and Practices of Documentary Credit Transactions Specimen Paper A – Simulation
Amount to be transferred
USD120,000.00
Amendments
Amendments to the original credit may only be advised to the second
beneficiary with our express agreement (tick)
or
Amendments to the original credit may be advised to the second beneficiary
without prior referral to ourselves
(tick)
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Principles and Practices of Documentary Credit Transactions Specimen Paper A – Simulation
Additional Information/Instructions
Page 9 of 12 SpecimenA/PDT
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Principles and Practices of Documentary Credit Transactions Specimen Paper A – Simulation
SIMULATION 3
Partial shipments allowed not allowed Credit available with Nominated Bank:
ABC Bank, London
by payment at sight
Transhipments allowed not allowed by deferred payment at:
by acceptance of drafts at:
Insurance will be covered by us by negotiation
Shipment From: Newark, New Jersey Against the documents detailed herein:
For transportation to: Southampton, England and Beneficiary’s drafts(s) drawn on: ABC
Bank, London
Not later than: 15 May XX
Goods (Brief description without excessive details): INCOTERMS
1,200m at USD 100 per m EXW FCA FAS FOB
Details of goods as per your previous Letter of Credit ref CFR CPT CIF CIP
DC 731264 dated 10 January XX (copy attached) DAP DAT DDP
Other (please
specify)
Page 10 of 12 SpecimenA/PDT
Principles and Practices of Documentary Credit Transactions Specimen Paper A – Simulation
Transport Document: (select only one below) marked freight paid or freight collect
Full set [or ] clean on board Marine Bills of Lading either issued to order and blank
endorsed or issued to the order of the party below or showing consignee as the party below.
Full set [or ] Multimodal Transport Document either issued to order and blank
endorsed or issued to the order of the party below or showing consignee as the party below.
Notify Party (complete only if required): Savage Steel plc, Tilton Road, Birmingham, England
Page 11 of 12 SpecimenA/PDT
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Principles and Practices of Documentary Credit Transactions Specimen Paper A – Simulation
Policy or Certificate (select one) in negotiable form for invoice value plus a minimum of [ ]
covering the following risks:
R SAVAGE R Savage________
Name and signature of the Applicant
Page 12 of 12 SpecimenA/PDT