Monday December 13th, 2010 - Karachi, Pakistan

Incoterms® 2010

The advent and continuing challenges of the financial and economic crisis have seen a dramatic increase in defaults and commercial disputes between trading partners in different countries. It is often the case that the excuse for non payment relates to a claim that the seller has not performed under the contract of sale.

Incoterms® are a term of the contract of sale between the seller and the buyer. The chosen term will impact directly on the obligation of the party to the contract of sale. These important commercial terms have evolved as terms used in the international contract of sale but usage as terms for domestic contracts are increasing given the need for greater transparency in trade related business.

Reference to an Incoterms® 2010 rule in a sale contract clearly defines the parties' respective obligations and reduces the risk of legal complications. Incoterms® 2010 updates and consolidates the 'delivered' rules, reducing the total number of rules from 13 to 11, and offers a simpler and clearer presentation of all the rules. All sale contracts should make reference to the Incoterms® 2010 rules as the latest version of the Incoterms rules.

To keep up with the rapid expansion of world trade and globalization, the Incoterms® rules are revised about once a decade. After their first introduction in 1936 the first revision occurred in 1957 and thereafter in 1967, 1974, 1980, 1990 and 2000. The long-awaited revision of the Incoterms® 2000 rules, two and a half years in preparation, will enter into force on 1st January 2011. The revision, the first in 10 years, contains many changes to rules which apply to billions of dollars of international trade each year.

 

Introduction by Mr. Vincent O'Brien

The Workshop

As a guardian and originator of the Incoterms® rules, ICC has a responsibility to not only ensure that the new rules are relevant and up-to-date but also that users are given the best instructions in how to take account of these changes in their contracts.

The Introductory Workshop on Incoterms® 2010 scheduled for December 13, 2010 in Karachi will focus on the major changes to the revision of the Incoterms® rules, the first revision in a decade. The workshop will be case study driven to achieve the maximum practical benefit in everyday agreement of sales contracts with particular focus on the international contract of sale. A full public presentation of the new rules and demonstration through case-studies of the major changes and processes will be provided by the speaker which you and your colleagues will need to know in your day-to-day practice.

This workshop will be of solid benefit to exporters and importers as well as professionals working in banks trade finance and risk management departments. It is also of interest to transport companies and other third party services providers who support exporters and importers in international trade. Commercial lawyers will also gain an insight into the correct application of Incoterms® 2010 rules of the ICC. Workshop participants will receive an ICC Certificate and an original publication of Incoterms® 2010.

Venue

Khorshed Mahal, Avari Towers, Karachi.

Timing

0900 - 1700

Registration Fees

ICC Members...........Rs.10,000/=
Non-ICC Members..Rs.12,000/=

Programme

08.00 - 09.00	Breakfast Registration
09.00 - 10.00	Introduction & Welcome - Welcome Address by Mr. Tariq M. Rangoonwala, Chairman ICC Pakistan - Introductory Address by Mr. Ahsan Aziz, Chair Banking Commission of ICC Pakistan - Address by Mr. Mohammad Altaf Madraswala, Consultant Trade Finance, TDAP - Legal Introduction by Barrister Zahid Jamil, Jamil & Jamil - Summary of local regulations by Mr. Sohail Ahmed, Barclays Bank
	SPEAKER: MR. VINCENT O'BRIEN Member, ICC Banking Commission Chair, ICC Market Intelligence Group
10.00 - 11.30	Introduction - Background: - Foundations of Incoterms® 2010 - Key changes from Incoterms® 2000 - The reduction from 13 to 11 terms - Transfer of costs - Transfer of risk - Impact of local law on international practice - Modification or variants of Incoterms® 2010
11.30 - 11.45	Tea/Coffee Break
11.45 - 13.30	Incoterms® 2010 – Operations Management - Single mode maritime Incoterms - All mode Incoterms - How to use the Incoterms® 2010 publication - Building a price quotation compatible with Incoterms - Insurance obligation for goods in transit - Selection of correct transport document
13.30 - 14.30	Lunch
14.30 - 17.00	Incoterms® 2010 – Rules for any mode or modes of transport - EXW - FCA - CPT - CIP - DAT - DAP - DDP Incoterms® 2010 – Rules for sea and inland waterway - FAS - FOB - CFR - CIF Workshop Practical Work - Identifying the correct Incoterm from various criteria - Transfer of property rights in the goods - The commercial contract and payment contract - Letter of credit implications for examination Questions & Answers

Speaker

Mr. Vincent 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 50 countries worldwide.

Mr. O'Brien has acted as the examiner of International Trade Finance for the Institute of International Trade of Ireland. He is the lead content writer for Mentor600, the Certified Online Training in Documentary Credits and UCP 600 of the International Chamber of Commerce.

Mr. O'Brien is a regular and respected contributor to international trade finance publications such as Documentary Credits Insight, Global Trade Review, LC Monitor and Documentary Credit World. He has played a major role in technical assistance and training for the trade facilitation programmes of the EBRD, the IFC and the ADB.

Mr. O'Brien is technical trade advisor to China Systems Corporation, the largest trade finance systems vendor in the World and he is currently providing technical assistance in the development of ICC's online training in the Incoterms® 2010 rules for international trade.

Mr. O'Brien is the ICC Representative to the WTO Expert Group on Financial Crisis and was recently appointed as Chair, of the ICC Banking Commission Market Intelligence Group (MIG).

Vincent O'Brien can be contacted at vob@ebsi.ie or www.ebsi.ie

Sponsorship Package

Workshop Sponsors

US $6,000/-

All Workshop materials would carry the name of the Workshop Sponsor along with a logo amongst other Sponsors and Supporters on a specially designated site at the Workshop. Workshop Sponsors will also be the joint host of the lunch.

Workshop Sponsors will be provided 6 complimentary participants.

Workshop Supporters (6 opportunities)

US $3,000/-

All Workshop materials would carry the name of the Workshop Supporter along with a logo amongst other Sponsors and Supporters on a specially designated site at the Workshop. Workshop Supporter will also be the joint host of one of the tea breaks.

Workshop Supporters will be provided 3 complimentary participants.

Registration Form