Instructor for this course

The course provides a comprehensive foundation for understanding all aspects of International Trade Finance in a global context, covering the key principles, concepts, infrastructures, practices, issues, and current developments.

Although the full course is divided into four parts, which together form a complete picture of international trade, its various instruments, its operations and its financing, each part may be studied as a stand-alone unit.

Part 3 of the course covers:

  • How international payments are made
  • Payments in US Dollars – The Clearing House Interbank Payment System (CHIPS)
  • Correspondent Banking
  • Continuous Linked Settlement (CLS) and its role in settling international trade payments

This course will be of special interest to banking, business, and import/export professionals who wish to expand their knowledge base as well as enhance their expertise and advance their careers in or gain a deeper understanding of the international trade finance arena.

Course Series

This course is included in the following series:

4 CoursesInternational Trade Finance

  1. International Trade - Part 1: Trade Finance Instruments
  2. International Trade - Part 2 - Payment Instruments
  3. International Trade - Part 3 – International Payment Systems
  4. International Trade - Part 4 – Supply Chain Finance

Learning Objectives

  • Discover the characteristics of an international payment.
  • Identify the risks in correspondent banking.
  • Explore the workings of the Continuous Linked Settlement (CLS) system
  • Discover how the US dollar Clearing House Interbank Payment System (CHIPS) operates.
  • Explore the principles behind international payments.
Last updated/reviewed: May 19, 2022

5 Reviews (24 ratings)Reviews

Anonymous Author
Great course for understanding International Payment Systems and how different parties interact in the process.
Anonymous Author
Very helpful. I have reviewed this material before, but it was great to get a refresher on it.
Member's Profile
Great course to understand the International Payment systems, Processes and related risks.
Member's Profile
good information on correspondence banks and on the continuous settlement system in us
Anonymous Author
I enjoyed the case study. It would be better to have more case studies.


Course Complexity: Intermediate

No Advanced Preparation or Prerequisites are needed for this course. However, it is recommended to take the other courses in the series prior to completing this one.

Education Provider Information

Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .

1 QuestionCourse Questions and Answers

Member's Profile

Good Morning, I noticed only International Trade Part 3 provides CTP credits, are CTP credits available for Part 1, 2 & 4? If so can you make the correction? Thank you

Course Syllabus
  2:34Introduction to International Trade - Part 3 – International Payment Systems
  8:16International Payments - A Primer
  5:59Correspondent Banking
  10:07How Correspondent Banking Is Settled
  15:09CHIPS - A Working Example
  16:28CLS & it's Role in Settling International Trade Payments
  2:40Course Wrap - Up
  1:01:13International Trade - Part 3 – International Payment Systems
  PDFSlides: International Payment Systems
  PDFInternational Payment Systems Glossary/Index