The Academy of the Ceylon Chamber of Commerce is organizing a knowledge sharing session on the recent changes in Incoterms on March 5, 2020 from 9am to 1pm at the Auditorium of the Ceylon Chamber of Commerce.
The Incoterm rules are a globally recognised set of standards, used worldwide in international and domestic contracts for the delivery of goods. The seminar intendeds to raise private sector awareness on the business implications of the new changes to incoterms introduced in 2020.
The seminar will cover areas such as new changes to incoterms introduced in 2020, relevance of incoterms in international trade contracts, dos and don’ts in selecting incoterms for your contracts, different modes of transport and appropriate terms and costs, what the critical points for transfer of risks are, and of the relationship of incoterms with cargo insurance.
The seminar will be conducted by an eminent panel of speakers including Dinesh De Silva (Member of the National Trade Facilitation Committee, Past Chairman of Industry Associations -Import section and Shippers Council) who will give an in-depth presentation on the changes on Incoterms as well as real time case studies.
Henry Gunawardena, Head of Transaction Banking Sales, Commercial Banking, Standard Chartered Bank, will share his insights on the different methods of payment used in international trade, and will relate it to the Incoterms from a bank’s perspective, highlighting the changes introduced in 2020.
Suranga Fernando, Chief Marine Insurance Manager of Ceylinco Insurance, will detail on the importance of selecting proper incoterms in international trading and its impact on risk transfer, importance of being specific when agreeing to incoterms, relationship of incoterms with cargo insurance and how the insurance cover should be negotiated to better protect your cargo.