{"id":3887,"date":"2018-12-14T04:19:12","date_gmt":"2018-12-14T09:19:12","guid":{"rendered":"http:\/\/www.letterofcredit.biz\/?p=3887"},"modified":"2019-04-06T03:57:56","modified_gmt":"2019-04-06T07:57:56","slug":"citf","status":"publish","type":"post","link":"https:\/\/www.letterofcredit.biz\/index.php\/2018\/12\/14\/citf\/","title":{"rendered":"CITF (Certificate in International Trade and Finance)"},"content":{"rendered":"<h4><span style=\"color: #ff6600;\"><strong>What is CITF Certification (Certificate in International Trade and Finance)?<\/strong><\/span><\/h4>\n<p>CITF is the abbreviation of the <strong>Certificate in International Trade and Finance<\/strong>.<\/p>\n<p>Certificate in International Trade and Finance (CITF) is a title in international trade finance.<\/p>\n<p>You have to pass a written examination that takes two hours in order to be qualified as a CITF.<\/p>\n<p>CITF certificate has been designed for exporters and importers. Banking professionals may also be benefited from this internationally recognized certificate.<\/p>\n<p>CITF certificate programme has been developed by The London Institute of Banking &amp; Finance in consultation with trade finance experts from across the world.<\/p>\n<p>CITF combines trade finance theory and practice.<\/p>\n<p>By having this certificate you prove that you have enough technical knowledge in international trade finance with the skills to apply them in real life situations.<\/p>\n<h4><span style=\"color: #ff6600;\"><strong>Scope of the CITF Certificate:<\/strong><\/span><\/h4>\n<p>After studying CITF, you will understand:<\/p>\n<ul>\n<li>The global trade dynamics and factors shaping the world economy as a whole,<\/li>\n<li>The role of the ICC in international trade and the rules that have been created by ICC,<\/li>\n<li>How to use ICC international model contracts in daily life,<\/li>\n<li>The basics of trade terms and Incoterms rules,<\/li>\n<li>The documents used in international trade such as financial documents, official documents and transport documents,<\/li>\n<li>What are the risks associated with foreign currencies when exporting and importing?<\/li>\n<li>How to mitigate foreign exchange risks in international trade finance?<\/li>\n<li>What are the payment methods in international trade?<\/li>\n<li>What are the differences between open account, documentary collections, documentary credits and bank payment obligations?<\/li>\n<li>The fundamentals of guarantees and standby letters of credit.<\/li>\n<li>Differences between short, medium and long term trade finance<\/li>\n<li>Fundamentals of Islamic trade finance<\/li>\n<li>How to handle disputes arising from international trade operations?<\/li>\n<li>Basics of arbitration<\/li>\n<li>Fraud prevention and anti-money laundering<\/li>\n<\/ul>\n<h4><span style=\"color: #ff6600;\"><strong>Eligibility of the Examination:<\/strong><\/span><\/h4>\n<p>CITF would be a highly valuable achievement for exporters, importers and banking professionals who would like to prove their knowledge in international trade and finance in a global scale.<\/p>\n<p>There are no entry requirements for CITF certificate examination. Anyone who pays the submission fee may enter the CITF examination.<\/p>\n<p>But please keep in mind that CITF examination has a moderate difficulty level. Well preparation is a must, experience on related fields is a good asset.<\/p>\n<p>The examination takes place in English language only.<\/p>\n<h4><span style=\"color: #ff6600;\"><strong>Examination Format:<\/strong><\/span><\/h4>\n<p>Assessment for CITF consists of a 2 hour multiple-choice examination, designed to test knowledge and its application.<\/p>\n<p>The examination paper consists of 100 multiple-choice questions, split in to two sections:<\/p>\n<ul>\n<li>Section A &#8211; 80 multiple-choice questions<\/li>\n<li>Section B &#8211; four case studies, each with 5 linked multiple-choice questions.<\/li>\n<\/ul>\n<p>To pass you must achieve the required pass mark of 70%.<\/p>\n<p>CITF is examined in over 30 countries each year and are given in paper format at designated international centres.<\/p>\n<p><span style=\"color: #008000;\">Important Note:<\/span> Examination structure can be modified from one exam to another.<\/p>\n<h4><span style=\"color: #ff6600;\"><strong>Organizer:<\/strong><\/span><\/h4>\n<p>CITF examination held by <a href=\"https:\/\/www.libf.ac.uk\/\" target=\"_blank\" rel=\"noopener noreferrer\">The London Institute of Banking &amp; Finance<\/a>. You can reach their website from this <a href=\"https:\/\/www.libf.ac.uk\/study\/professional-qualifications\/trade-finance\/certificate-in-international-trade-and-finance-(citf)\" target=\"_blank\" rel=\"noopener noreferrer\">link<\/a>.<\/p>\n<h4><strong><span style=\"color: #ff6600;\">Costs:<\/span><\/strong><\/h4>\n<p>CITF examination which is held by <a href=\"https:\/\/www.libf.ac.uk\/\" target=\"_blank\" rel=\"noopener noreferrer\">The London Institute of Banking &amp; Finance<\/a> cost you around 580GBP. (650EUR)<\/p>\n<p>*for exact and up-to-date cost please refer to above official website.<\/p>\n<h4><span style=\"color: #ff6600;\"><strong>How to Prepare?<\/strong><\/span><\/h4>\n<p><a href=\"https:\/\/www.libf.ac.uk\/\" target=\"_blank\" rel=\"noopener noreferrer\">The London Institute of Banking &amp; Finance<\/a>\u00a0provides following learning materials to each candidate:<\/p>\n<ul>\n<li>online access via MyLIBF &#8211; www.myLIBF.com to learning materials and to KnowledgeBank (virtual library);<\/li>\n<li>unit syllabuses;<\/li>\n<li>study text;<\/li>\n<li>specimen paper; and,<\/li>\n<li>student-led forum.<\/li>\n<\/ul>\n<p>Additionally, candidates can benefit from ICC publications as indicated below:<\/p>\n<ul>\n<li><a href=\"http:\/\/store.iccwbo.org\/icc-guide-to-exportimport-2\" target=\"_blank\" rel=\"noopener noreferrer\">2018 ICC Guide to Export\/Import Global<\/a> Business Standards &amp; Strategies<br \/>\nGuillermo C. Jimenez<\/li>\n<li><a href=\"http:\/\/store.iccwbo.org\/incoterms-2010\" target=\"_blank\" rel=\"noopener noreferrer\">Incoterms 2010<\/a> English Edition By the International Chamber of Commerce (ICC)<br \/>\nICC Publication No. 715E, 2010 Edition<\/li>\n<li><a href=\"http:\/\/store.iccwbo.org\/business-guide-to-trade-and-investment\" target=\"_blank\" rel=\"noopener noreferrer\">Business Guide to Trade and Investment &#8211; Volume 1 &#8211; International Trade<\/a><br \/>\nArthur E. Appleton and Patrick F.J. Macrory<\/li>\n<li><a href=\"http:\/\/store.iccwbo.org\/drafting-and-negotiating-international-commercial-contracts-3\" target=\"_blank\" rel=\"noopener noreferrer\">Drafting and Negotiating International Commercial Contracts A practical guide, with ICC model contracts<\/a> &#8211; Third edition Fabio Bortolotti<\/li>\n<li><a href=\"http:\/\/store.iccwbo.org\/icc-uniform-customs-and-practice-for-documentary-credits\" target=\"_blank\" rel=\"noopener noreferrer\">ICC Uniform Customs and Practice for Documentary Credits &#8211; UCP 600<\/a>\u00a0ICC Publication No. 600E, 2006 Edition<\/li>\n<\/ul>\n<h4><span style=\"color: #ff6600;\"><strong>Assessment Criteria:<\/strong><\/span><\/h4>\n<p>You can reach CITF examination learning outcomes and assessment criteria from this <a href=\"http:\/\/www.letterofcredit.biz\/wp-content\/uploads\/citf-qualification-specification.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">link<\/a>.<\/p>\n<h4><span style=\"color: #ff6600;\"><strong>How to Apply?<\/strong><\/span><\/h4>\n<p>You should apply for a CITF certificate exam from The London Institute of Banking &amp; Finance&#8217;s official <a href=\"https:\/\/secure2.libf.ac.uk\/tradefinance\/registration.aspx?qualcode=CITF\" target=\"_blank\" rel=\"noopener noreferrer\">website<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>What is CITF Certification (Certificate in International Trade and Finance)? CITF is the abbreviation of the Certificate in International Trade and Finance. Certificate in International Trade and Finance (CITF) is a title in international trade finance. You have to pass<\/p>\n","protected":false},"author":1,"featured_media":4314,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[432],"tags":[403,402,433,431],"class_list":["post-3887","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-citf","tag-cdcs","tag-certificates","tag-citf","tag-csdg"],"_links":{"self":[{"href":"https:\/\/www.letterofcredit.biz\/index.php\/wp-json\/wp\/v2\/posts\/3887","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.letterofcredit.biz\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.letterofcredit.biz\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.letterofcredit.biz\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.letterofcredit.biz\/index.php\/wp-json\/wp\/v2\/comments?post=3887"}],"version-history":[{"count":0,"href":"https:\/\/www.letterofcredit.biz\/index.php\/wp-json\/wp\/v2\/posts\/3887\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.letterofcredit.biz\/index.php\/wp-json\/wp\/v2\/media\/4314"}],"wp:attachment":[{"href":"https:\/\/www.letterofcredit.biz\/index.php\/wp-json\/wp\/v2\/media?parent=3887"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.letterofcredit.biz\/index.php\/wp-json\/wp\/v2\/categories?post=3887"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.letterofcredit.biz\/index.php\/wp-json\/wp\/v2\/tags?post=3887"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}