Bankers and traders’ guide to revised ISBP

MANILA, Philippines — The Center for Global Best Practices, in collaboration with the International Chamber of Commerce, will host a two-day training titled, Revised ISBP on LC Transactions for Bankers, Importers and Exporters, Lawyers, Insurers and Transporters to be held on Wednesday and Thursday, Nov. 28 and 29 at the Manila Marriott Hotel, Pasay City, Philippines.

International Standard Banking Practice (ISBP), which needs to be understood by different stakeholders who are involved in international trading of imported and exported goods,  provide details on how to apply banking practices under Uniform Customs and Practice for Documentary Credits (UCP 600) to various trade documents (invoices, transport documents, bills of lading, certificates of origin) and feature documents including packing list, weight list, beneficiary certificate, non-negotiable sea waybills, analysis, inspection, health, phytosanitary, quantity and quality certificate, etc.

Learn and relearn the key terms of the ISBP. Be guided on the frequently asked questions such as “What’s new in ISBP 2013”, “Do copies of documents need to be signed, who may be the issuer, signatory of the documents” and “How to correct inconsistencies in documents” among many others. 

Check www.cgbp.org for details and a complete list of international trade training programs including ICC Model International Sales Contracts, INCOTERMS 2010, Best Practices Guide on How to Import Goods to the Philippines, Best Practices in Handling Customs Tax Audits & Remedies, Mastering the Use of LC for Import and Export, Understanding Trade Finance for Auditors and many more.  You may also call landlines in Manila (+63 2) 842-7148/ 59 and (+63 2) 556-8968/ 69, in Baguio (+63 74) 423-2914, in Cebu (+63 32) 512-3106 or 07, or Legazpi City (+63 52) 736-0148.

The training seminar will feature Singapore-based expert, Victor Tan, who is an authority in the field of international trade.  He has 15 years of banking experience in Europe covering areas of international trade finance, remittances, guarantees, and import and export. He has worked with various international banks such as Standard Chartered Bank, Amsterdam-Rotterdam Bank, Bangkok Bank, Royal Trust Merchant Bank and Barclays Bank, the last of which he served as deputy head of the trade finance department. He conducts highly specialized training programs for clients in Jakarta, Bangkok and Singapore.

Registration is open to the general public. This program is highly recommended for those in the banking, insurance, logistics, forwarding industry and in the business of import and export. Public Officials and government employees attending training programs like this are exempted from the P2,000 limit set by COA based on the DBM Circular 563 dated April 22, 2016. Interested participants are encouraged to avail of the early payment savings and group discounts for three or more registrants. Seats are limited and pre-registration is required.