Understanding Incoterms® 2010 & NAFTA Audit Workshops – Western Canada, November

• November 15, 2010 - Winnipeg - Delta Winnipeg Hotel
• November 16, 2010 - Calgary - Delta Calgary South Hotel
• November 17, 2010 - Vancouver - Blake, Cassels and Graydon LLP, 595 Burrand Street
AM Session - Incoterms® 2010: Both the New Changes and the Existing Terms

Effective January 1, 2011, Incoterms® 2000 will be replaced by Incoterms® 2010.

Incoterms® are extensively used in international sales contracts as they are widely recognized and understood commercially. They determine critical issues such as who will pay for the carriage of the goods, who will be responsible for customs clearance, and the point at which risk passes between the parties.

This hands-on workshop will cover topics such as: overview of the Incoterms rules, including the new changes; term-by-term analysis; useful definitions; and role in sales/purchasing contracts.
If you are sometimes presented with contracts that contain Incoterms® and you do not understand the full meaning of them, this is your chance to get up to speed on this important trade topic so you can minimize your company’s risks and obligations.

PM Session - NAFTA Audit

Most importers and exporters are eager to take advantage of the duty relief granted under the North American Free Trade Agreement (NAFTA), but remain unaware of the risks and liabilities associated with claiming the NAFTA tariff treatment. Many still do not know that more than 50% of NAFTA Certificates of Origin either contain errors which render them invalid or are not supported with the necessary documentary evidence. With NAFTA origin audit activity on the rise, more importers are being shocked by assessments of financial penalties and/or retroactive duty and GST, while some Canadian manufacturers and exporters are losing their competitive advantage in the North American market.

In this down to earth, easy to understand session, we’ll cover the following:

• What importers and exporters should expect during a NAFTA audit conducted by either the Canada or U.S. Customs Agencies.
• Learn from the mistakes of others – Common errors made on Certificates / Statements of Origin, and during NAFTA audits.
• Sharing NAFTA strategies used by manufacturers, exporters and importers.
• Do you really know how your Customs Broker is handling this issue? Are you at greater risk than you thought?

For agenda and registration please click here.

2010 Incoterms Come into Force January 1, 2011

(CIFFA eBulletin)

Incoterms are trade definitions used mostly in international business. First devised and published by the International Chamber of Commerce (ICC) in 1936, Incoterms (international commercial terms) are recognizable worldwide as a binding description of the buyer’s and seller’s responsibilities for across border sales contracts.

Incoterms rules are particularly important in that they help traders avoid misunderstandings by clarifying the costs, risks, and the allocation of certain responsibilities of buyers and sellers in contracts for the sale of goods. Since the last revision in 2000, much has changed in global trade. Cargo security, for example, is now at the forefront of the transportation agenda of numerous countries. In addition, the United States’ Uniform Commercial Code was revised in 2004, resulting in a deletion of U.S. shipment and delivery terms.

Incoterms 2010 will be even more concise and relevant and will reflect the changes mentioned above and many others. Available through the Canadian Chamber of Commerce’s ICC Canada’s Bookstore this fall, Incoterms 2010 will enter into force as of January 1, 2011. Incoterms 2010, as well as other valuable ICC publications can be purchased through the Canadian Chamber’s at ICC Canada’s Bookstore. For more information please contact Angela Roy, (613) 238-4000 ext. 265.