If you do import and export trade transactions or planning to
trade goods, it’s a must to master INCOTERMS (International Commercial Terms
used in shipping goods on land, air and sea). While the revised set of
rules on INCOTERMS in all international trade transactions has taken effect
globally seven years ago, many exporters and importers, traders, bankers,
insurers, freight forwarders, carriers and the people handling such
transactions namely business owners, treasurers, CFOs, procurement officers,
trade negotiators and many lawyers are still unaware or ill equipped in
understanding these changes. They make mistakes in the use of these trade
terminologies that jeopardize their business. It has cost them loss of business
opportunities, delays in deliveries and receipt of products and additional
legal costs to solve their problems.
Understanding these revised
rules and incorporating their use in sales contracts will eliminate the
uncertainties, errors and costly mistakes in the interpretations created in trade
transactions. These new rules have tremendous impact on trade
documentation and critical implications for their businesses, especially in the
carriage of goods between seller/ buyer, export and import clearance
requirements, allocation of costs between seller & buyer, acquisition of
cargo insurance and assumption of risks for loss and damage.
To educate the business community and the general public, the
International Chamber of Commerce in collaboration with the Center for Global
Best Practices, will hold a special yearly seminar on the topic entitled “INCOTERMS:
Revised International Rules in the Interpretation of Trade Terms” on
Friday, March 9, 2018 at the Manila Marriott Hotel, Pasay City, Philippines.
These revised set of INCOTERMS is designed to be more concise than
the previous version and more relevant to business transactions and cargo
security issues which are now at the forefront of the transportation agenda of
all countries and governments.
This special program will feature Singapore-based expert, Victor
Tan, an authority in the field of trading and banking, and with 15
years of banking experience covering areas of international trade finance,
remittances, guarantees, import and export. 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. He is the accredited
trainer of the International Chamber of Commerce in Southeast Asia.
Since 1992 he has been conducting highly specialized training in
Jakarta, Bangkok and Singapore, Malaysia and the Philippines where he recently
conducted this program at the Bangko Sentral ng Pilipinas and the American
Embassy. 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.
Those into trading, import and export, sales, insurance,
logistics, treasury and finance, audit, and entrepreneurs who has a need for
movements of goods locally and internationally would benefit greatly from this
event. Those registering 3 or more may avail of the group discount and
interested participants may also avail of the early payment savings. This
seminar will include the seminar kit, snacks, sumptuous lunch buffet and
certificate of attendance. This is a limited-seats-only event and pre-registration
is required.
Others interested in this seminar may also like the following Best
Practices programs:
1) Mastering
the Use of LC for Import and Export (May 24
& 25, 2018)
2) Revised
ISBP on LC Transactions (November 28 &
29, 2018)
3) Business Guide on How to Import Goods to the Philippines
4) Model Templates in International Sales Contracts
The Center for Global Best Practices also accepts in-house
training and consulting for individuals, families, and corporate
clients. For complete details and a complete list of other best practices
seminars, you may check www.cgbp.org or call Manila lines at (+63 2)
842-7148 or 59; 556-8968 to 69; Cebu lines at (+63 32) 512-3106 to 07 and
Baguio at (+63 74) 423-5148.
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