Local - Foreign Letters of Guarantees and Standby Letters of Credit


01 - 01 Jan, 1970



Why Attend?

In this course, participants will learn the procedures for letters of guarantee (LGs) and standby letters of credit (SBLCs), focusing on the operational aspects and the essential differences between foreign and local LGs. Participants will learn the ICC Uniform Rules for Demand Guarantees ) URDG 758( and International Standby (Letter of Credit) Practices ISP 98 (ICC publication No. 590) Published by international chamber of commerce ICC. Besides the laws that regulate the letters of guarantee namely the Egyptian Trade Law No. 17 of 1999 and Bid and Auction Law No. 89 of 1998 and the definition of sponsorship as part of the Egyptian Civil Law No. 131 of 1948.

course-obj_img Course Objectives

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    •Explain the characteristics of LGs. 

    •Describe local LGs. 

    •Describe foreign LGs.

     •Explain the characteristics of standby L/Cs

     •Describe LGs securing credit facilities

     •Discuss the legal considerations of LGs

     •Develop practical skills through case studies

course-obj_img Target Audience

Letter of guarantee specialists.

Module 1: Letters of Guarantee


 •Definition of LGs

 •Parties involved in issuing LGs and their roles

 •Types of LGs

 •The difference between Marine LG and Standard LG


 Module 2: Local Letters of Guarantee 

•Definition of local LG 

•The cycle of Local LG 

•Issuing local LG

 •Amendments of local LG

 •Cancellation of local LG 

•Review all the forms of local LG, its cycle and its amendments



Module 3: Foreign Letters of Guarantee 

•Definition of foreign LG

 •The cycle of foreign L G 

•Issuing foreign LG

 •Amendments of foreign LG

 •Cancellation of foreign LG 

•Counter LG 

•Combined LG 

•Review all the forms of foreign LG, its cycle and its amendments



Module 4: Standby Letters of Credit 

•Definition of Standby LC

 •The differences among Standby LC, documentary credit and standard LG

 •Criteria of examining documents

 •Reviewing the Standby LC form 



Module 5: Letters of Guarantee Securing Credit Facilities 

•Syndicated Loans 

•Letters of guarantee securing credit facilities 

•Lines of communication between LG operations and other bank departments 

•The relationship between the LG concept and the authorized limit from the Ministry of Finance 

•Characteristics of LGs

 •Review syndicated loans forms / securing LG facilities



 Module 6: Legal Considerations and Letters of Guarantee

 •ICC Uniform Rules for Demand Guarantees URDG 758

 •International Standby (Letter of Credit) Practices ISP 98 (ICC publication No. 590)

 •The relationship between LGs and Standby LCs and anti-money laundering law


 Module 7: Case Studies 

•Local LGs 

•Foreign LGs

 •Standby LCs

1970 - Course Type & Date

DATE: 01 - 01 Jan, 1970

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