Mastering the use of trade terminologies

In collaboration with the International Chamber of Commerce to educate the business community and the general public, the Center for Global Best Practices will hold a re-run of the program titled, “Incoterms: Revised International Rules in the Interpretation of Trade Terms” on Sept. 14 at the EDSA Shangri-La Hotel, Mandaluyong City.

The 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 the revised rules and incorporating their use in sales contracts will eliminate the uncertainties, errors and costly mistakes in the interpretations created in trade transactions.

The 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 and buyer, acquisition of cargo insurance and assumption of risks for loss and damage.

The 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.

The 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 the event. Check www.cgbp.ph for a complete list of International Trade programs including Best Practices Guide on How to Import Goods to the Philippines, Mastering the Use of LC for Import and Export, Revised ISBP on LC Transactions, ICC Model International Sales Contracts, Best Practices in Handling Customs Tax Audits and Remedies and more. 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.