Maintained by the International Chamber of Commerce (ICC) , the Incoterms are a universally recognized set of definitions of international trade terms, such as Ex Works, FOB, and Delivered Duties Paid. They provide a standardized, short-hand means for buyers and sellers to contractually divide costs, risks, and liabilities regarding the shipment of goods. Fresh off the press, responding to the rapid expansion of global trade and tailored to the needs of international business practitioners, the Incoterms 2010 Rules are now here, going into effect on January 1, 2011. Find out what Incoterms rules do and what they donít; familiarize yourself with the new rules and key changes so you donít have to learn the hard way.
Presenter: Buddy Baker, VP Global Trade Services Ė Fifth Third Bank
Date: Wednesday, December 15, 2010
Time: 11 am Eastern Time
Duration: 90 minutes
Registration: FREE for All Credit Professionals - Unlimited Number of Participants*
Non-member Vendors and Service Providers Registration Fee: $100 Ė Unlimited Number of Participants*
*one telephone and web connection at one physical location*unlimited participants from one location in a conference room setting
*Registration is limited to the first 50 registrants
Walter (Buddy) Baker has over 30 years of experience in international trade finance. In May 2009 he joined Fifth Third Bank as head of their Trade Services Sales team, based in Chicago. Fifth Third is one of the 20 largest banks in the US and provides a full range of risk mitigation and financing products for exporters and importers. Prior to Fifth Third, Buddy worked for Atradius Trade Credit Insurance, ABN AMRO Bank, Bank of America, Wachovia Bank, and The First National Bank of Chicago.
Buddy is a recognized expert in trade finance and author of numerous magazine articles and the books Users' Handbook for Documentary Credits under UCP 600, Documentary Payments & Short-Term Trade Finance, and The Regulatory Environment of Letters of Credit and Trade Finance. He makes frequent presentations for national associations of exporters, importers, bankers, and lawyers. Mr. Baker serves as a member-at-large of the National Letter of Credit Committee of the International Financial Services Association and is actively involved in establishing national and worldwide standard practices for L/Cs, such as the latest revision of the Uniform Customs and Practice for Documentary Credits (referred to as "UCP600"), the official ICC guide for examining letter of credit documents, called the International Standard Banking Practices for the Examination of Documents under Letters of Credit ("ISBP"), the "eUCP" supplement to the UCP, dealing with electronic documents, the International Standby Practices ("ISP98"), and Article 5 of the Uniform Commercial Code.
He acts as an advisor to the Wolfsberg Group, an international group that includes most of the largest banks in the world, whose purpose is to set standards for combating money laundering, and to the Institute of International Banking Law & Practice. Buddy also serves on the Board of Directors of the Association of International Credit and Trade Finance Professionals ("ICTF"), a multinational association of export credit managers. Buddy earned his undergraduate degree from Yale and his MBA from Northwestern.