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Learning 13 vital trade terms

- BUSINESSLINE () - March 30, 2009 - 12:00am

MANILA, Philippines - The International Chamber of Commerce published a set of international rules for the interpretation of trade terms. These rules are known as Incoterms. This provides importers, exporters, bankers, lawyers, transporters, insurers, entrepreneurs, decision-makers, CFOs and students of business a clear definition of the language of trade terms, such as EXW, FOB, FCA, AS, CFR, CIF, CPT, CIP, DAF, DES, DEQ, DDU, DDP. Understanding Incoterms and incorporating the use of it in sales contracts eliminates errors in the interpretations created in a trade transaction. Understanding these trade terms will also save you on costs of transactions and time in dealing with other parties. The Center for Global Best Practices will hold a pioneering one-day seminar on Incoterms to be held on April 17, 2009 at the Peninsula Manila, Makati. The program will feature Singapore-based Incoterms expert, Victor Tan, an authority in the field of trading and banking, and with 15 years of banking experience in Europe, covering areas of international trade finance, remittances, guarantees, import and export. He has worked with various international banks such as Standard Chartered Bank, Amsterdam-Rotterdam Bank, Bangkok Bank, Royal Trust Merchant Bank and Barclays Bank, the last of which he was deputy head of the trade finance department. This one-time event offers early bird discounts for those who will register early and group discounts for attendees of three or more. Limited seats only with pre-registration required. For details, log on to www.cgbp.org. Email jessica@cgbp.org or call (02) 842-7148 or 59.

Seminar on credit transactions

The Center for Global Best Practices has designed a unique program that will enable all types of businesses with local and international credit transactions to protect themselves in their dealings with borrowers. The one-day seminar, “Best Practices to Protect Lenders in Credit Transactions”, scheduled on May 22 at the Peninsula Manila, is a comprehensive guide to protective mechanisms and security devices, such as loan documentation, credit enhancements, enforcement and debt recovery techniques, that lenders should employ in credit transactions. This MCLE-accredited program will feature Rafael A. Morales, senior partner and head of the banking, securities and finance department of Sycip Salazar Hernandez and Gatmaitan. He is an authority in credit transacitons, and has authored two books on commercial law and numerous legal articles. Another speaker is Patricia-Ann T. Prodigalidad, partner at Angara Abello Conception Regala and Cruz (ACCRA) Law Offices. An expert in commercial law and litigation, she also has a master of laws degree from Harvard Law School and has the distinction of being a number one bar topnotcher. Interested participants may call 842-7149 amd 59 or email jessica@cgbp.org. Early bird and group discounts are available. For the complete details, registration, and list of the upcoming seminars, visit the website www.cgbp.org.

AMSTERDAM-ROTTERDAM BANK ANGARA ABELLO CONCEPTION REGALA AND CRUZ BANGKOK BANK BEST PRACTICES CGBP CHARTERED BANK GLOBAL BEST PRACTICES INCOTERMS ORG PENINSULA MANILA
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