Certificate for Documentary Credit Specialists (CDCS)
Documentary credits are a vital part of international trade. CDCS is an industry-leading qualification that will develop expertise in this field, providing you with a comprehensive understanding of the products, parties, processes and rules that underpin documentary credit transactions.
Key information
CDCS is the global benchmark for documentary credit expertise
Take your exam online with same-day results
Earn 36 CPD hours towards your trade finance recertification
You'll have 12 months from registration to complete the qualification
Units
CDCS is made up of two units
Regulation
Registered with Ofqual in the Regulated Qualifications Framework (RQF)
Assessment
Your first exam is included in the registration fee for each unit
What your studies will cover
The types, characteristics and uses of documentary credits and standby letters of credit
Rules and trade terms, including UCP 600, ISP98, Incoterms® 2020 and URR 725
Parties to documentary credit transactions and their roles and obligations
Types and methods of payment and credit used in documentary credit transactions, including the concept of autonomy
Types of transport, commercial and financial documents used in documentary credit transactions
Related products including letters of indemnity, air way releases and steamship guarantees
The implications of breaching rules including money laundering and terrorist financing
About the qualification
CDCS will improve your knowledge and understanding of the complex issues associated with documentary credit best practice. You’ll learn to:
understand documentary credits – the products, parties, processes and rules that underpin documentary credit transactions
identify documentary credit risks, breaches and irregularities
manage documentary credit transactions
apply knowledge of processes, ICC rules and trade terms.
CDCS is a globally recognised standard of competence, which we created with industry experts and manage in partnership with the International Chamber of Commerce (ICC).
While studying with us, you’ll become a Member of LIBF (MLIBF), receiving benefits including careers support and access to professional networking events.
Over 31,000 CDCS holders across 114 countries
95% of learners would choose us again
Trusted by trade finance professionals for over 26 years
96% of learners rate their CDCS experience positively
Hear from a CDCS learner
It can be very demanding to study alongside a full-time job, but the knowledge and skills gained from studying for qualifications like CDCS and CITF are highly beneficial and directly applicable to our work. It’s a worthwhile investment.
Reem SamawiHead of Trade Finance Transactions | CDCS, CITF, CTFC and QTFE completer | Cairo Amman Bank
Meet your CDCS editor
As the CDCS editor, I’ve aimed to ensure the programme delivers comprehensive knowledge of documentary credits, equipping professionals with the expertise and global recognition they need to excel. This qualification not only enhances career prospects but also demonstrates a deep commitment to professional development in trade finance.
Gary CollyerCDCS editor and trade finance expert
Our partners
Endorsed by
International Chamber of Commerce (ICC)
Supported by
Bankers Association for Finance and Trade (BAFT)
Unit information
Types and uses of documentary credits, including standby credits
Included in your course fee, you’ll get access to:
a student-led discussion forum
unit syllabus
specimen paper
student handbook
online study texts
exam simulation exercises
e-quiz
three CDCS exam training videos: video one (free), video two (£25) and video three (£35)
online access to our student portal, MyLIBF
and online access to our virtual library, KnowledgeBank.
Audio revision recaps (£50)
Get audio revision aids to revisit every topic of the CDCS study text and help you prepare for your exams. Every audio clip will be added to your course site at the end of each topic. Over four hours of audio is included to help consolidate your learning from the study text.
Assessments
To complete the CDCS qualification, you’ll need to pass two exams:
Foundations of Documentary Credits (FODC) – a 90 minute multiple-choice test
Management of Documentary Credits (MGDC) – a 105-minute exam split into two parts:
Part A: multiple-choice questions
Part B: synoptic document-checking exercises
You’ll need to score at least 70% in each exam to pass.
What you need to know:
Your first attempt at each exam is included in your registration fee
If you need to resit, a fee will apply
You can sit your exams at home, at a time that suits you, using remote invigilation on our learning platform
There’s no need to book in advance. Before you start, you’ll need to do a quick 360-degree scan of your surroundings using your laptop or webcam.
Once you pass both units, you’ll receive a digital certificate to confirm your achievement
This assessment structure ensures you’re tested on all aspects of the course in a secure, fair and professional environment.
Corporate bookings If you are a company and want to register a cohort of students onto CDCS please emailtrade@libf.ac.ukfor further information.
Additional costs
Exam resit fee per unit
£175.00/unit (or a total of £350 if you need to resit both units)
Recertification fee
£230.00
Late recertification fee
£50.00
Specimen exams
Units:
Unit 1 (FODC) Mock Exam Specimen: £25.00
Unit 2 (MGDC) Mock Exam Specimen: £25.00
Bundle Offer: Purchase both Unit 1 and Unit 2 for £40.00
Take advantage of our bundle offers for the most cost-effective preparation.
Additional study support
CDCS exam training videos
Get expert guidance to help you prepare for the CDCS exam and avoid common mistakes.
Working with Gary Collyer, our CDCS editor and a leading documentary credit expert, we’ve created a three-part video series based on real exam insights to help you maximise your score.
What’s included?
CDCS 1 – free introduction: A taster of what to expect in the exam and our training videos.
CDCS 2 – simulation exercises (£25): Learn how to approach these exam questions to improve your results.
CDCS 3 – key exam challenges (£35): Covers the six areas students typically find most difficult.
Watch on any device, from anywhere, with 12 months of unlimited access to study at your own pace. Start now with CDCS 1 – it’s free.
Purchase through your MyLIBF account or using the button below.
Some students prefer a qualification route with extra learning support. In addition to having long-term partners worldwide, we have recognised a select number of course providers offering CDCS learning support. Using a learning support provider is entirely up to you – it is NOT a requirement of your studies – but this extra support might help your learning. You’ll need to pay for such provision directly to your chosen Accredited Learning Support Providers (ALSPs). Please note you will still need to register and complete CDCS through us as we are the qualification awarding body.
An ALSP is a training organisation that has joined our ALSP scheme and has been formally recognised by us as delivering appropriate additional learning and training support.
To gain our recognition, an ALSP’s course is assessed rigorously and must continue to meet certain quality standards relating to:
accuracy of course information
comparability to our programme of study
accuracy of course content
quality of delivery, both online and in a classroom
trainer/author credentials
course management policies and procedures
satisfactory annual reporting of their training activities and course management
While all ALSPs’ courses undergo regular monitoring, they might not be suitable for all students and we offer no guarantee of success in the exam to users of them. If you are considering using third party services, it’s very important that you assess their offering against your needs and choose your provider with great care – please see the FAQ on what you should look for when choosing a learning support provider. A list of our current CDCS ALSPs is here.
Using a third party learning provider is entirely your choice: it is NOT a requirement of your CDCS studies. However, once you have commenced your studies, if you feel you would like or need supplementary support in addition to the resources available from us, paying for an additional course might benefit you. For example, an extra online course from a training provider might be structured in a way that suits your learning style.
Many training organisations also offer face-to-face workshops and live webinars. The benefits of these include you being able to meet and learn with fellow students and a qualified trainer, discuss issues relating to your individual needs, undertake varied activities, practice exam questions and better understand your progress and learning gaps - all away from the distractions of a work/home environment.
There are dozens of learning support providers offering training courses. Please be aware that while websites appear to be professional-looking, not all are bona fide organisations: for example, read about the ruling by the Advertising Standards Agency in 2018.
So, if you are considering using a learning support provider that is not an ALSP, we strongly recommend you read its website thoroughly and look at whether:
it can be contacted by phone or e-mail (beware of those only offering a call-back service)
an address is given – check that the company and its address are genuine. Do an online search on the address: does the company operate from professional-looking premises?
training course fees are clearly stated
it states you will also need to register with The London Institute of Banking & Finance and pay the appropriate fee
syllabus information and course content appear accurate, complete and up to date
there are any testimonials (but bear in mind they might not be genuine)
there are clearly stated terms and conditions. Make sure you read them carefully
the organisation claims to be recognised or accredited by us and/or uses our logo. Please note that only ALSPs are authorised to state they are accredited by us and display the official ALSP logo. The names and contact details of our ALSPs who offer support for CDCS are published on our websitehere.
You are strongly advised not to simply register and/or pay for a course online. Your first step should be to phone the organisation to discuss the course and your needs. If they cannot describe the course in detail, or if there is no answer and they do not reply to voicemails or e-mails, you should be very cautious.
We are aware of a number of revision courses and learning materials being offered for sale online. If these are not being offered by one of our Accredited Learning Support Providers, you should be very wary of buying them even if they appear to be good value.
The provider and the materials have not been reviewed by us and therefore their quality and relevance to your studies is unknown. Note that these materials might be incomplete, inaccurate or out of date and could therefore be misleading to you.
The international CDCS Registry contains the names of those who hold the CDCS designation.
If you complete CDCS successfully, your details will be added to the registry, though this may take up to 30 days after you receive your results. You'll need to recertify successfully every three years to ensure your name remains on the registry.
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