phil02

Philippines: Learn the new Incoterms 2020

  • Oct 07, 2019

MANILA, Philippines — In 1936, the International Chamber of Commerce first introduced the International Commercial Terms (Incoterms) to establish a commonly accepted definition and rules related to the delivery of goods between trading partners worldwide. These refer to the different terminologies used by traders, importers, exporters, customs brokers, logistics companies, non-life insurers, bankers in the shipment of goods via land, air and sea. 

The new set of Incoterms was recently released on Sept. 10, and is set to take effect worldwide on Jan. 1, 2020. The changes will have a tremendous impact on the trade documentation and will have critical implications on your businesses. Understanding the new rules and incorporating their use in sales contracts eliminate the uncertainties, errors and costly mistakes in the interpretations created in trade transactions. 

To educate the different stakeholders on this, the Center for Global Best Practices, in collaboration with the International Chamber of Commerce, is hosting a training program entitled Incoterms 2020: Revised international rules on the interpretation of trade terms to be held on Monday at the Makati Shangri-La Hotel, Makati City, Philippines.

Registration is open to the general public. Check www.cgbp.org for details and a complete list of other International Trade programs such Mastering the Use of LC for Import and Export, How to Import Goods to the Philippines, and more.  You may also call landlines in Manila (+63 2) 8842-7148/ 59 or (+63 2) 8556-8968/ 69 and Cebu (+63 32) 512-3106 or 07. Interested participants are encouraged to pre-register early to ensure seat availability and to avail of the early payment and group discounts for those registering three or more attendees.

This special program will feature Singapore-based expert Victor Tan, who is 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. He has worked with various International Banks since 1977 starting with Standard Chartered Bank, Amsterdam-Rotterdam Bank, Bangkok Bank, Royal Trust Merchant Bank and lastly, Barclays Bank, where he was deputy head, trade finance. 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.

Source: https://www.philstar.com/business/2019/10/07/1957946/learn-new-incoterms-2020#Ee30V3pyjAMkLzjQ.99