This ICC Sri Lanka one-day seminar on essential ICC Rules focusing on UCP 600, Incoterms 2010 will provide a comprehensive review of the new Incoterms rules and take a detailed technical look at proven methods of generating discrepancy free transport and commercial documents for presentation under Documentary Letters of Credit based on the UCP 600 rules and international standard banking practice.
With the effects of the global financial and economic crisis still being felt in most countries, businesses need to take even more stringent measures to ensure that their sales transactions are watertight. Understanding the new provisions of Incoterms 2010 and how the changes impact users will provide businesses with the confidence and legal certainty to trade in unfamiliar markets and save both and money.
In the context of the global financial crisis the recently published ICC Global Trade Finance survey which gleaned hard facts from more than 100 countries reported that ‘34% of respondents indicated an increase in the percentage of documents refused on first presentation’ and ‘94% of respondents experienced increased pressure from applicants to refuse documents during 2010’.
This ICC Sri Lanka workshop will take the ICC rules and empower participants to use them as tools to undertake secure and successful international trade and finance transactions.
Incoterms® 2010 deal only one of the contracts needed for an international sale, namely the contract of sale. However, this seminar has a broader focus also dealing with the challenge of generating and presenting discrepancy free transport documents thus facilitating effective and timely conclusion of contracts and positively managed international trade cash flow and security of payment.
This training will be of particular interest to:
- Contract/Execution managers involved in the export and import of goods;
- Trade finance officers in banks;
- Export or Import consultants and advisors
- Professionals working in finance and risk departments
- In-house freight and carriage operatives with carriers;
- In-house insurance specialists with insurance companies;
- In-house members of the legal profession advising any of the above;
In fact, anyone who is interested in learning about Incoterms, Letters of Credit and other transport Documentation and the technical application of ICC rules will find this practical seminar of tremendous benefit.
The seminar will be conducted by Vincent O’Brien, a leading member of the International Chamber of Commerce Banking Commission (ICC) and Director of the Electronic Business School International.
O’Brien is a highly experienced practitioner of International Trade Finance being a long-standing member of the ICC Banking Commission. He has more than 20 years international trade banking experience and has delivered trade finance technical assistance and training in more than 70 countries worldwide. Vincent is Chair of the ICC Banking Commission, Market Intelligence Group.