MANILA, Philippines — If you do import and export trade transactions or plan 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 like business owners, treasurers, CFOs, procurement officers, trade negotiators and many lawyers are still unaware of these changes. Marketing people need to also master INCOTERMS if their transactions include the need to negotiate with clients on delivery options.
In collaboration with the International Chamber of Commerce, the Center for Global Best Practices will have a rerun of the program titled, “INCOTERMS: Revised International Rules in the Interpretation of Trade Terms” on March 7, 2019 at the Marriott Hotel in Pasay City.
These revised set of INCOTERMS is more concise 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 transport of goods, export and import clearance requirements, allocation of costs between seller and 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, 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. 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.
Registration is open to the general public. Those into trading, import and export, banking, sales, insurance, logistics, treasury, finance, audit, and entrepreneurs who have a need for transporting goods locally and internationally will benefit greatly from this event. CGBP is accredited by the Civil Service Commission. Attendees from the government can earn points for their career advancement and are exempted from the P2,000 limit, when attending training conducted by the private sector based on DBM Circular 563 dated April 22, 2016. Interested participants are encouraged to avail of the early registration savings and group discounts for three or more attendees. Seats are limited and pre-registration is required.
Check www.cgbp.org for a complete list of international trade programs or call landlines in Manila (+63 2) 842-7148/ 59 and (+63 2) 556-8968/ 69, in Baguio (+63 74) 423-2914, in Cebu (+63 32) 512-3106 or 07, or Legazpi City (+63 52) 736-0148.