A new set of rules on INCOTERMS (International Commercial Terms) - shipping terms used for land, air and sea - in all trade transactions have been effective since January 2011. This will be implemented globally. If you are an exporter, importer, trader, banker, insurer or involved in carriers and freight forwarders, you need to be aware of these changes because they will have a huge impact on trade documentation and critical implications for your business.
Especially, this concerns the carriage of goods between seller/buyer, the export and import clearance requirements, the allocation of costs between seller & buyer, the acquisition of cargo insurance, and the assumption of risks for loss and damage.
If you are able to understand these rules and incorporate their use in sales contracts, you will avoid uncertainties, errors, and costly mistakes in the interpretations created in a trade transaction. These rules are for those involved in international trade transactions and for entrepreneurs and businessmen who plan to be in the import and export business.
In line with the new set of rules, the Center for Global Best Practices is conducting two sets of seminars titled "INCOTERMS 2010". One would be in Manila on March 23, 2011 at the EDSA Shangri-La Hotel and the other in Cebu on March 25, 2011 at the Radisson Blu Hotel.
The speaker for this seminar is Victor Tan, MBA (Strathclyde), ACIB, MInstAM, an authority in the field of trading and banking. He has 15 years of banking experience covering the areas of International Trade Finance, Remittances, Guarantees, Import and Export Departments. He has worked with various International Banks since 1977 starting with Standard Chartered Bank, Amsterdam-Rotterdam Bank, Bangkok Bank, Royal Trust Merchant Bank and lastly Barclays Bank, where he was Deputy Head, Trade Finance.
Mr. Tan has been conducting highly specialized training since 1992 in Jakarta, Bangkok and Singapore. He also holds a Master of Business Administration degree from University of Strathclyde, UK and is a qualified Life Associate Member of the Chartered Institute of Bankers, London. He will teach everything one has to know on how to apply INCOTERMS for business advantage.
For more information, call Katrina Viray (for the Manila seminar) or Mabel Manipol (for the Cebu seminar) at (02) 556-8968/69 (Manila lines) or (032) 512-3106/07 (Cebu lines). You can also email them at katrina@cgbp.org or mabel@cgbp.org. Check our website at http://www.cgbp.org/ for more details.
Especially, this concerns the carriage of goods between seller/buyer, the export and import clearance requirements, the allocation of costs between seller & buyer, the acquisition of cargo insurance, and the assumption of risks for loss and damage.
If you are able to understand these rules and incorporate their use in sales contracts, you will avoid uncertainties, errors, and costly mistakes in the interpretations created in a trade transaction. These rules are for those involved in international trade transactions and for entrepreneurs and businessmen who plan to be in the import and export business.
In line with the new set of rules, the Center for Global Best Practices is conducting two sets of seminars titled "INCOTERMS 2010". One would be in Manila on March 23, 2011 at the EDSA Shangri-La Hotel and the other in Cebu on March 25, 2011 at the Radisson Blu Hotel.
The speaker for this seminar is Victor Tan, MBA (Strathclyde), ACIB, MInstAM, an authority in the field of trading and banking. He has 15 years of banking experience covering the areas of International Trade Finance, Remittances, Guarantees, Import and Export Departments. He has worked with various International Banks since 1977 starting with Standard Chartered Bank, Amsterdam-Rotterdam Bank, Bangkok Bank, Royal Trust Merchant Bank and lastly Barclays Bank, where he was Deputy Head, Trade Finance.
Mr. Tan has been conducting highly specialized training since 1992 in Jakarta, Bangkok and Singapore. He also holds a Master of Business Administration degree from University of Strathclyde, UK and is a qualified Life Associate Member of the Chartered Institute of Bankers, London. He will teach everything one has to know on how to apply INCOTERMS for business advantage.
For more information, call Katrina Viray (for the Manila seminar) or Mabel Manipol (for the Cebu seminar) at (02) 556-8968/69 (Manila lines) or (032) 512-3106/07 (Cebu lines). You can also email them at katrina@cgbp.org or mabel@cgbp.org. Check our website at http://www.cgbp.org/ for more details.
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