Center for Global Best Practices

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...

In the light of the "Recent Financial Crisis", some exporters and importers deliberately include discrepancies in their Letters of Credit (LC) documentation to renegotiate the terms and prices of the trade transactions, to the disadvantage of the other party.   To save importers and exporters from falling into pitfalls, tricks, and traps in LC operations, The Center for Global Best Practices is conducting a seminar called “Best Practices in Letters of Credit” on May 5 & 6, 2011 at the New World Hotel in Makati City, Philippines.  This seminar will teach participants the practical steps in issuing proper LCs and how they work, what to do to avoid pitfalls, and actions to take in cases of discrepancies. It will also cover new regulations (and the application of UCP 600) involving Letters of Credit.  This special program will also present easy-to-understand case studies and samples to highlight best practices pointers and tips, including topics such as cost sav...

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...