Seminar on vital trade terms set

MANILA, Philippines - Most often, parties to a contract are unaware of the different trading practices in their respective countries. This can give rise to misunderstandings, disputes and litigation, with all the waste of time and money that this entails.

To remedy these problems, 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, FAS, CFR, CIF, CPT, CIP, DAF, DES, DEQ, DDU, DDP.

Incoterms is the global standard for the interpretation of trade terms. Understanding this and incorporating the use of it in sales contracts eliminates the uncertainties and errors in the interpretations created in a trade transaction. Understanding these trade terms will also save you on costs of transactions and time in deal negotiations with other parties.

The Center for Global Best Practices will hold a pioneering one-day seminar on Incoterms on April 17 at the Peninsula Manila, Makati City. 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.

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, you may log on to www.cgbp.org. Email [email protected] or call (02) 842-7148 or 59.