EPCH to create risk awareness amongst exporters
Updated: Jan 02, 2014 04:33:22pm
Kolkata, Jan 2 (KNN) In order to minimize the risks of foreign trade in world market, the Export Promotion Council for Handicrafts (EPCH) is organizing a seminar creating awareness about the International Commercial Terms (INCOTERMS) and risks involved in the foreign trade at Kolkata.
The seminar on INCOTERMS and risks of foreign trade will be held on January 4. The Guest faculty from IIFT and eminent FOREX advisor will provide the required knowledge to the member exporters who are engaged in the handicrafts sector.
INCOTERMS are internationally accepted commercial terms, defines the respective roles of the buyer and seller in the agreement of transportation and other responsibilities and clarify when the ownership of the merchandise takes place.
These terms are incorporated into Export-Import sales agreements and contracts worldwide and are a necessary part of foreign trade.
INCOTERMS make international trade easier and help traders in different countries to understand one another. On the other hand, evaluating risk is the most important factor in for promoting export and facing international trade competition.
“However, there is no fixed formula for successful elimination of risk and is differ from exporter to exporter depending upon whether the exporter is a merchant exporter or a manufacturer exporter or exporting through an agency. Like any business transaction, risk is also associated with goods to be exported in an overseas market,” according to a notification.
“Realizing the importance of the subject, the Council is organizing a Seminar on INCOTERMS and risks of foreign trade,” said EPCH.
The seminar aims at refining the member exporters on understanding INCOTERMS and minimizing the risks of foreign trade in world market. (KNN/SD)
The seminar on INCOTERMS and risks of foreign trade will be held on January 4. The Guest faculty from IIFT and eminent FOREX advisor will provide the required knowledge to the member exporters who are engaged in the handicrafts sector.
INCOTERMS are internationally accepted commercial terms, defines the respective roles of the buyer and seller in the agreement of transportation and other responsibilities and clarify when the ownership of the merchandise takes place.
These terms are incorporated into Export-Import sales agreements and contracts worldwide and are a necessary part of foreign trade.
INCOTERMS make international trade easier and help traders in different countries to understand one another. On the other hand, evaluating risk is the most important factor in for promoting export and facing international trade competition.
“However, there is no fixed formula for successful elimination of risk and is differ from exporter to exporter depending upon whether the exporter is a merchant exporter or a manufacturer exporter or exporting through an agency. Like any business transaction, risk is also associated with goods to be exported in an overseas market,” according to a notification.
“Realizing the importance of the subject, the Council is organizing a Seminar on INCOTERMS and risks of foreign trade,” said EPCH.
The seminar aims at refining the member exporters on understanding INCOTERMS and minimizing the risks of foreign trade in world market. (KNN/SD)
Loading...
