Seminar tackles latest in int’l bank practices

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 starting June 1, 2013, that will impact 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 two-day seminar titled “New ISBP 2013 on LC transactions” to be held on Aug. 27 and 28, 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. 

For details and a complete list of seminars including other international trade training seminars such as INCOTERMS 2010 and Mastering Letters of Credit, 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].