VCCI and CACCI Hold a Well-Attended Advanced Seminar on Contract Sales Incoterms 2020 in Vietnam in May 2024
The Vietnam Chamber of Commerce and Industry (VCCI) and the Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI) jointly organized two-day seminars each in Hanoi and Ho Chi Minh City in Vietnam. The advanced courses on Contract of Sale, Incoterms 2020 and Secured Payment Methods in International Trade took place on 27-28 May in Hanoi, and on 30-31 May in Ho Chi Minh City.
Both seminars were very successful in terms of both attendance and class participation. The Hanoi seminar attracted about 100 participants, while the Ho Chi Minh City seminar surpassed 200 participants, coming from a variety of industries, including exporting companies, banks, logistics companies, insurance companies and even law firms.
The seminars focused on securing exports overseas using the most popular payment methods in international trade
The seminars were conducted by the experienced trainer and consultant Pavel Andrle, long-time member of ICC (International Chamber of Commerce) Banking Commission and Commission on Commercial Law and Practice. His presentations, which were interpreted into Vietnamese language, focused firstly on best practices in relation to drafting of international contracts of sale, above all its main parts: delivery and payment conditions.
Participants learned about new Incoterms 2020, main features of each delivery term and possible issues to pay attention to. Special focus was given to documentation, i.e., how to choose the right documentation to match the relevant Incoterm and the limits which documents pose. For instance, there might be significant risks for the exporter – often a beneficiary of a documentary credit – if the FCA port of loading was agreed (suitable term for containerized shipments) but the documentary credit requires a shipped on board bill of lading (which is always the case). The new Incoterms 2020 deal with such situation but nevertheless the exporter should be very well aware of possible problems in getting the complying bill of lading in time!
