|08 December, 2019

Sharjah Chamber of Commerce and Industry introduces members & employees to the latest version of Incoterms 2020

The training, which was held in collaboration with the International Chamber of Commerce UAE (ICC UAE) and London Institute of Banking & Finance (LIBF), has targeted mainly SCCI members and employees including sales and purchasing managers, agents, customs brokers, transport companies, credit professionals, trade advisors, international bankers and lawyers.

During the training workshop

During the training workshop

Sharjah: The Sharjah Chamber of Commerce and Industry organized today (Sunday) a training workshop to introduce its members and employees to the latest rules and terms included in the updated version Incoterms 2020.

The training, which was held in collaboration with the International Chamber of Commerce UAE (ICC UAE) and London Institute of Banking & Finance (LIBF), has targeted mainly SCCI members and employees including sales and purchasing managers, agents, customs brokers, transport companies, credit professionals, trade advisors, international bankers and lawyers.

Delivered by Bob Ronai, Incoterms 2020 Drafting Group member, the training aimed to familiarize Sharjah’s business community and SCCI members with Incoterms 2020’s new terms and rules, which will be in use for the next ten years.

Held at the SCCI’s headquarters, the event was attended by HE Mohammed Ahmed Amin Al Awadhi, Director General of the Chamber, and Fatima Khalifa Al Muqrab, Head of International Cooperation, SCCI, BOD Member of ICC UAE, as well as other SCCI members and representatives of various commercial and industrial sectors in Sharjah.

Al Awadhi expressed his deep gratitude and appreciation to the ICC and LIBF for their fruitful cooperation and helping develop and explain the latest version of Incoterms 2020.

During the training, Ronai outlined the history of Incoterms, which was first published in 1936 by ICC and helped facilitate the international trade movement, being an acceptable terms followed as a common protocol for importers and exporters.

Ronai highlighted the most important updates on Incoterms 2020, which included 11 clauses and explained in details the new rules, which are related to costs, risks and obligations between buyer and seller in import and export transactions. He stressed the importance of these rules, especially in reducing or eliminating uncertainties arising from different interpretations in countries.

Incoterms are a series of pre-defined commercial terms published by the International Chamber of Commerce and is updated every ten years or so in an effort to keep up with the changes that take place in international trade.

-End-

For further information, please contact:
Osama Al Ansari                                                                                 
Misbar Communications
00971509194522
Osama@misbar-me.com 

Heba Alshahed
Misbar Communications
00971505784522
heba.alshahed@misbar-me.com 

Mahmoud Soliman
Misbar Communications

© Press Release 2019

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