Seminar on Incoterms 2010..

Center for Global Best Practices (designated Secretariat of the International Chamber of Commerce-Philippines) will hold a Seminar on Incoterms 2010: New International Rules in the Interpretation of Trade Terms on December 3, 2010 at Edsa Shangri-La Hotel, Mandaluyong City, from 9:00am to 5:00pm


The International Chamber of Commerce (ICC) had recently released the new Incoterms 2010 which will be effective worldwide on January 1, 2011.


Incoterms are international rules published by the ICC for the interpretation of trade terms eg EXW, FOB, CFR, CIF, CPT, CIP, FCA etc. Exporters, Importers, Bankers and Insurers, Freight Forwarders and Carriers need to be aware of the new changes in Incoterms 2010 which have critical implications to their business especially on the following:

• Carriage of goods between seller/buyer
• Export and Import clearance requirements
• Allocation of costs between seller and buyer
• Acquisition of transit/cargo insurance
• Assumption of risks for loss and damage

The changes in the new Incoterms rules are massive, sweeping as well as practical. Four terms under the current Incoterms 2000 were taken out. Two new terms DAT (Delivered At Terminal) and DAP (Delivered At Place) have been added. Incoterms 2010 promise to be very concise and more relevant to business transactions and cargo security issues which are now at the forefront of the transportation agenda of numerous countries.

COURSE OUTLINE

1) What are Incoterms – what is it, what does it clarify, how widely is it used and how may we apply the Incoterms?
2) Incoterms – some common misconceptions
3) Terms of Sale vs. Terms of Payment
4) What important matters are covered by the new Incoterms 2010 and what are the main changes to Incoterms 2000?
5) The new classification under the new Incoterms 2010
6) Different Modes of transport and appropriate terms
7) The impact of Incoterms rules on shipping and transport documents
8) The use of Incoterms 2010 rules in domestic trade
9) How will Incoterms 2010 affect the relationship and specific responsibilities between sellers and buyers?
10) What are the critical points under Incoterms 2010 for the transfer of risks and costs?
11) A detailed diagrammatic analysis of the 11 Incoterms
12) Relationship of Cargo Insurance with Incoterms
13) Relationship of Methods of Payment with Incoterms
14) Why FOB, CFR & CIF are no longer relevant for use in containerized shipment?

Who Should Attend:

All Exporters, Importers, Traders, Bankers, Freight Forwarders and Carriers, Customs Brokerage, Insurance Specialists, and all those involved in International Trade or Purchasing. This is also for those who want to engage into import and export transactions such as entrepreneurs and businessmen.

Course Director:

Victor Tan, MBA (Strathclyde), ACIB, MInstAM, is an authority in the field of trading and banking with 15 years of banking experience covering the areas of International Trade Finance, Remittances, Guarantees, Import and Export departments. 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.

Since 1992 he has been conducting highly specialized training in Jakarta, Bangkok and Singapore. 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. He will teach everything one has to know on how to apply INCOTERMS for business advantage.

Seminar fee is at Php 8,480 or U$ 195 inclusive of Meals, Resource Kit, & Certificate of Attendance

LIMITED SEATS ONLY: PRE-REGISTRATION REQUIRED

Avail of Early Bird and Group Discounts:

• Less 5% for early payment (if made on or before November 23, 2010)
• Less 5% for group registration (minimum of 3 participants)

For more details contact:

Katrina Viray
Program Officer

Manila lines (+632) 556-8968 or 69
Manila Telefax (+632) 842-7148 or 59
Cebu lines (+63 32) 512-3106/07
EMAIL: katrina@cgbp.org
Check: http://www.cgbp.org

INCOTERMS 2010 promises to be very 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.

Don’t be left behind. ATTEND!

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