Incoterms 2010 | Mastering the Use of Import and Export Termionologies

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 of these changes. 

Don’t mistake in the use of trade terminologies that can jeopardized your businesses. In collaboration with the International Chamber of Commerce to educate the business community and the general public, the Center for Global Best Practices will have a re-run of the program entitled, “INCOTERMS: Revised International Rules in the Interpretation of Trade Terms” scheduled on Friday, September 14, 2018 at the EDSA Shangri-La Hotel, Mandaluyong City, Philippines.

These revised set of INCOTERMS is a more concise version of the previous one 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. 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 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.

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.

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

This program is open to the general public. Those into trading, import and export, banking, 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.

Interested participants may choose to avail of the following:

a) 5% Early Payment Discount (valid until September 4 only)

b) 5% Group Discount (for 3 or more registrants)

Participants who will be attending INCOTERMS training can also attend these International Trade Programs:

1) Mastering the Use of LC for Import and Export
     Wednesday & Thursday, October 10 & 11, 2018

2) Revised ISBP on LC Transactions
     Wednesday & Thursday, November 28 & 29, 2018

3) Best Practices Guide on How to Import Goods to the Philippines
     Friday, February 22, 2019

4) ICC Model International Sales Contracts
     (Date to be announced)

5) Best Practices in Handling Customs Tax Audits & Remedies
     (date to be announced)

You may also find of interest the following programs:

1) Masterclass on Writing Minutes of Meetings
     Tuesday, October 23, 2018

2) Refresher Course on Business English
     Thursday & Friday, September 13 & 14, 2018

3) Write Right for Positive Results!
     Thursday, November 29, 2018

4)  How to Use Parliamentary Procedures for Effective Meetings
      Friday, August 31, 2018

5) Corporate Governance: Board Effectiveness Effectiveness
     Friday, November 9, 2018

6) More at www.cgbp.org

Interested participants may contact:
Center for Global Best Practices

Telephone Numbers:

Metro Manila: (+63 2) 842-7148 or 59, and (+63 2) 556-8968 or 69

Baguio Line:   (+63 74) 423-2914

Cebu City:      (+63 32) 512-3106 or 07
Legaspi City:  (+63 52) 736-0148

The Center for Global Best Practices also accepts in-house training and consulting for individuals, families, and corporate clients. We invite you to check our website for a complete list of CGBP’s upcoming programs.

Note: Public officials and government employees attending these training programs are exempted from the Php 2,000 limit set by COA based on the Department of Budget and Management circular 563 issued on April 22, 2016.

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