Learn about new int’l banking practices standards

MANILA, Philippines - Bankers, importers, exporters, transporters and insurers involved in international trade transactions must be aware and updated of the latest revisions in the International Standard Banking Practice 2013 (ISBP 2013) that took effect June 1, 2013 which impacts on how letters of credit (LCs) are prepared. Lawyers must also be aware of this so that their clients would have the advantage in litigation in cases of non-payment under the LC.

To help explain these changes, the Center for Global Best Practices, in collaboration with the International Chamber of Commerce, will hold a pioneering two-day seminar entitled, “New ISBP 2013 on LC Transactions” to be held on Thursday and Friday, August 8 & 9 2013, at the Peninsula Manila, Makati City, Philippines. This seminar is a comprehensive guide for participants on everything they need to know about ISBP 2013 and the Uniform Customs and Practices for Documentary Credits (UCP 600). The new ISBP 2013 is the universally used and accepted rules on letters of credits implemented worldwide. Attendees will learn practical steps in insuring their international trade transactions go smoothly, how to avoid pitfalls, and actions to take in cases of discrepancies. The two-day seminar offers discounts for early registration and early payment, as well as group discounts for attendees of three or more.

For details and a complete list of seminars, you may log on to www.cgbp.org or contact program leader Lara Magnait at 842-7148/ 59 and 556-8968/ 69; Cebu lines: (032) 512-3106 or 07 or Baguio telephone (074) 423-5148 or email at [email protected].