Center for Global Best Practices

If you do import and export trade transactions or planning to trade goods, it is 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 eight 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 rerun of the program entitled, “INCOTERMS: Revised International Rules in the Interpretation of Trade Terms ” scheduled on Thursday, March 7, 2019 at the Manila M...

The Center for Global Best Practices, in collaboration with the International Chamber of Commerce, will host a two-day training entitled, Revised ISBP on LC Transactions forBankers, Importers & Exporters, Lawyers, Insurers & Transporters to be held on Wednesday and Thursday, November 28 & 29, 2018 at the Manila Marriott Hotel, Pasay City, Philippines. International Standard Banking Practice (ISBP), which needs to be understood by different stakeholders who are involved in international trading of imported and exported goods,  provide details on how to apply banking practices under Uniform Customs and Practice for Documentary Credits (UCP 600) to various trade documents (invoices, transport documents, bills of lading, certificates of origin) and feature documents including packing list, weight list, beneficiary certificate, non-negotiable sea waybills, analysis, inspection, health, phytosanitary, quantity and quality certificate, etc. All it takes is just one...

With the growing free-trade agreements of the Philippines with other countries, tariff barriers have been lowered if not removed totally. This development has encouraged more businesses to import and export goods to and from different countries. For trade transactions, buyers and sellers prefer Letters of Credit (LC) – a payment mode which is safe, secure and the most acceptable legal tender of payment especially for parties who dont know each other and requires the safest way to get paid as a seller and for the buyer to get receive the goods according to one's expected quality and specifications. To help you fully understand the use of LC, the Center for Global Best Practices will hold a two-day training entitled, “ Mastering the Use of LC for Import and Export ” on Thursday and Friday, May 24 & 25, 2018 at the Manila Marriott Hotel, Pasay City, Philippines. Master the nine (9) different types of LC and use it for your businesses advantage. Get practical tips on ho...

The Center for Global Best Practices is holding a seminar in Cebu in line with the new changes in International Commercial Terms (INCOTERMS) by the International Chamber of Commerce (ICC). The new set of rules has been effective since January 2011. The seminar called “ INCOTERMS 2010: New International Rules in the Interpretation of Trade Terms ” is designed to help exporters and importers, traders, bankers, insurers, freight forwarders and carriers in the Cebu and neighboring areas get updated and acquainted with the new set of rules. This one-time event will be held on March 25, 2011 at the Radisson Blu Hotel in Cebu City. The scope of the seminar includes 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. Victor Tan, MBA, (Strathclyde), ACIB, MInstAM , an authority in the field of trading and...

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 transaction...