Training guide on incoterms

MANILA, Philippines — The Center for Global Best Practices, in collaboration with the International Chamber of Commerce, will host a training program titled “Incoterms 2020: Revised International Rules in the Interpretation of Trade Terms” on May 24, 2024 from 9 a.m. to 5 p.m. at the EDSA Shangri-La Hotel, Mandaluyong City.

Incoterms refer to international commercial terminologies used by traders, importers, exporters, customs brokers, logistics companies, non-life insurers and bankers in the shipment of goods via land, air and sea. Embedded in these terminologies are the trade rules that clearly define the seller’s and buyer’s obligations as part of a contract. The new set of incoterms took effect worldwide on Jan. 1, 2020. These changes made tremendous impact on the trade documentation and have critical implications on businesses. Understanding these updated rules and incorporating their use in sales contracts eliminate the uncertainties, errors and costly mistakes in the interpretations created in trade transactions.

The incoterms training will highlight the amendments made and how these changes affect the relationship between the buyer and the seller. Thiss world-class program will feature Victor Tan, 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.

He has worked with various international banks since 1977 starting with Standard Chartered Bank and moving on to Amsterdam-Rotterdam Bank, Bangkok Bank, Royal Trust Merchant Bank and Barclays Bank, where he served as deputy head for trade finance.

Since 1992, he has been conducting highly specialized training in Jakarta, Bangkok, Singapore and the Philippines, including programs for the Bangko Sentral ng Pilipinas and US Embassy in Manila.

He also holds a Master of Business Administration degree from the University of Strathclyde, UK and is a qualified life associate member of the Chartered Institute of Bankers, London.

For details and other business-related programs, visit www.cgbp.org or call (+63 2) 8842-7148/59 or (+63 2) 8556-8968/69.