Communication Department Archives

ICC Publishes Latest Book in Best-Selling Series on Incoterms® Rules

Published on May 8, 2013

4505_image002New York, N.Y., May 8, 2013 – The International Chamber of Commerce (ICC) has published its much-awaited Incoterms® 2010 Q&A : Questions and expert ICC guidance on the Incoterms® 2010 rules, the latest in a series of best-selling books helping readers understand and use the Incoterms® rules to their strategic advantage, according to the United States Council for International Business (USCIB), ICC’s American national committee.

This publication is now at the USCIB International Bookstore.

Comprising more than 80 new questions, Incoterms® 2010 Q&A offers expert guidance on choosing the correct Incoterms® 2010 rules, and thus avoiding costly mistakes arising from dangerous mismatches between the contract of sale and related documents, such as letters of credit and contracts of carriage.

This book includes real users’ questions on the Incoterms® 2010 rules with responses from world-renowned ICC experts. Included in this edition are questions and answers related to previous Incoterms rules contrasted against Incoterms® 2010. This publication contains comprehensive flowcharts and checklists to allow readers choose the correct Incoterms® 2010 rule and manage documents in a sale or purchase transaction, a glossary of commonly used trade terms, and the complete text of the Incoterms® 2010 rules.

“Since being published by ICC in 1936, the Incoterms® rules have become the gold standard worldwide for the interpretation of most commonly used terms in international trade,” said Emily O’Connor, executive secretary of the ICC Commission on Commercial Law and Practice. “This latest installment of the Incoterms® series, by the international body that drafts and maintains the Incoterms® rules, is an invaluable resource for everyone involved in cross-border transactions.”

About USCIB:
USCIB promotes open markets, competitiveness and innovation, sustainable development and corporate responsibility, supported by international engagement and regulatory coherence. Its members include U.S.-based global companies and professional services firms from every sector of our economy, with operations in every region of the world. With a unique global network encompassing leading international business organizations, including ICC, USCIB provides business views to policy makers and regulatory authorities worldwide, and works to facilitate international trade and investment. More at www.uscib.org.

To facilitate International Trade USCIB offers three Trade Services: ATA Carnet, commonly known as the Merchandise Passport, which allows goods to enter over 85 customs territories tax- and duty-free for up to one year; eCertificates of Origin, fully electronic processing of Certificates of Origin, returned to you by e-mail, fast and complaint with ICC Guidelines for Certificates of Origin; and the USCIB International Bookstore, which enables customers to learn international business through unique titles covering a range of topics.

Contact:
Hsin-Ya Hou, USCIB International Bookstore
+1 212.703.5066, hyhou@uscib.org

USCIB International Bookstore

More on USCIB’s Trade Services

 

USCIB’s Duncan to Head Coordinating Body for Global ATA Carnet System

Published on April 24, 2013
USCIB’s Cynthia Duncan (right) takes over from Peter Bishop (left) as chair of the World ATA Carnet Council, which manages the global “merchandise passport” system.
USCIB’s Cynthia Duncan (right) takes over from Peter Bishop (left) as chair of the World ATA Carnet Council, which manages the global “merchandise passport” system.

The World ATA Carnet Council (WATAC), the body responsible for managing the international guarantee chain for ATA Carnets – which allow for temporary duty- and tax-free export and import of goods – has elected Cynthia Duncan, USCIB’s senior vice president of Carnet and trade services, as its next chair.

The announcement came at the 8th World Chambers Congress, a biennial event organized by the ICC World Chambers Federation (WCF), in Doha, Qatar. Duncan takes over the leadership role from Peter Bishop, who stepped down after nine years at the helm.

Managed jointly by the WCF and the World Customs Organization, the ATA Carnet system enables duty-free and tax-free temporary import of goods of professional equipment, commercial samples, and goods for trade fairs and exhibitions for up to one year. Today the Carnet system is in force in 73 countries.

Ruedi Bolliger, executive director of the Swiss Chamber of Commerce Alliance, was also elected deputy chair of WATAC.

“With the sound foundation established by Peter Bishop, support of the new vice chair, and the continuing efforts of the carnet community, I expect that the ATA system will grow even stronger in the years to come,” Duncan said.

Duncan has served as head of USCIB Carnet and Trade Services since February 2000. She also serves on the steering committee of World Trade Week NYC and is a member of the New York District Export Council. She is a former member of the board of directors of the Organization of Women in International Trade, New York and previously served in a number of other capacities at USCIB, including as vice president for membership.

Staff contact: Amanda Barlow

More on USCIB’s Carnet and Trade Services Department

 

The Law of Letters of Credit in China

Published on April 18, 2013

New Guide to Letter of Credit Law in China

4488_image001New York, N.Y., April 18, 2013 – A new publication from the International Chamber of Commerce (ICC) offers immense help to anyone doing export/import business in China using letters of credit (LC), according to the United States Council for International Business (USCIB), ICC’s American national committee.

The Law of Letters of Credit in China, now available for purchase from the USCIB International Bookstore, provides detailed commentary, in-depth explanations and critical analyses that help shed light on how Chinese LC disputes are resolved and the judicial interpretations that define China’s LC system, based on over 500 court case decisions.

“Although China has not yet enacted any LC law, over the past 20 years, the Supreme People’s Court has promulgated a series of judicial interpretations, provisions and meeting minutes that combine to form the legal authority on LCs in China,” said Li Jian, general counsel of the Export-Import Bank of China. “The present work is an indispensible guide for law, trade and banking professionals trying to understand and apply these judicial interpretations.”

The publication’s author, Jin Saibo, who was involved in the eight-year drafting process of The Supreme People’s Court of China’s LC Judicial Interpretations, has structured the book to cover such critical issues as:

  • Conformity of China’s LC system with international practices, i.e., International Standard Banking Practice
  • Consolidation of disputes concerning LCs and underlying practices
  • Statutory limitations of action
  • Recovery for damages
  • Reasonable legal fees

The Law of Letters of Credit in China is available in English only.

About USCIB:

USCIB promotes open markets, competitiveness and innovation, sustainable development and corporate responsibility, supported by international engagement and regulatory coherence. Its members include U.S.-based global companies and professional services firms from every sector of our economy, with operations in every region of the world. With a unique global network encompassing leading international business organizations, including ICC, USCIB provides business views to policy makers and regulatory authorities worldwide, and works to facilitate international trade and investment.

USCIB’s Trade Services include: ATA Carnet, commonly known as the Merchandise Passport, which allows goods to enter over 85 customs territories tax- and duty-free for up to one year; eCertificates of Origin, fully electronic processing of Certificates of Origin, returned to you by e-mail, fast and complaint with ICC Guidelines for Certificates of Origin; and the USCIB International Bookstore, which enables customers to learn international business through unique titles covering a range of topics.

Contact:

Hsin-Ya Hou, USCIB International Bookstore
+1 212.703.5066, hyhou@uscib.org

More on USCIB’s Banking and Trade Finance Committee

More on USCIB’s China Committee

More on USCIB’s Trade Services

Madagascar Joins ATA Carnet System for Temporary Imports

Published on April 18, 2013
Home to amazing wildlife and many miles of scenic coastline, Madagascar is an increasingly popular destination for fashion and other photo shoots.
Home to amazing wildlife and many miles of scenic coastline, Madagascar is an increasingly popular destination for fashion and other photo shoots.

New York, N.Y., April 18, 2013 – The Indian Ocean nation of Madagascar, well known as home to lemurs but also a potentially important destination for U.S. exports and travel, will adopt the ATA Carnet for temporary exports, effective April 22.

The move enables travelers to ship a variety of goods in and out of the country temporarily without paying import duties or taxes, according to the United States Council for International Business (USCIB), which administers and guarantees the Carnet system in the U.S.

“While a minor U.S. trading partner right now, we think Madagascar’s growing reputation as a destination for exotic animal and fashion photography will make using Carnets very appealing,” said Cynthia Duncan, USCIB’s senior vice president for trade services. “Professional equipment like that used by photographers is one of the categories of goods covered by a Carnet.”

USCIB, a private, pro-trade group based in New York, administers the ATA Carnet system in the United States. Worldwide, the system is managed jointly by the International Chamber of Commerce and the World Customs Organization. In 2012, the most recent year for which worldwide figures are available, over 150,000 Carnets were issued, covering goods worth more than $17 billion (U.S.)

Beginning next week, those visiting Madagascar may bring product samples, professional equipment and goods for display at trade shows into the country duty-free and tax-free. Carnets are good for one year and can be used in any of the 80-plus countries and customs territories that honor them. Visit www.merchandisepassport.org for details.

Joining the Carnet system is part of Madagascar’s drive for better access to world trade, notably through regional integration and the development of tourism. ATA Carnets will provide a practical tool to foster such integration.

Madagascar is a member of the Common Market for Eastern and Southern Africa (COMESA), the largest regional economic organization in Africa, with 19 member states and a population of about 390 million. COMESA has a free trade area, with 14 member states, and launched a customs union in 2009.

About USCIB:

USCIB promotes open markets, competitiveness and innovation, sustainable development and corporate responsibility, supported by international engagement and regulatory coherence. Its members include U.S.-based global companies and professional services firms from every sector of our economy, with operations in every region of the world. With a unique global network encompassing leading international business organizations, including ICC, USCIB provides business views to policy makers and regulatory authorities worldwide, and works to facilitate international trade and investment.

USCIB’s Trade Services include: ATA Carnet, commonly known as the Merchandise Passport, which allows goods to enter over 85 customs territories tax- and duty-free for up to one year; eCertificates of Origin, fully electronic processing of Certificates of Origin, returned to you by e-mail, fast and complaint with ICC Guidelines for Certificates of Origin; and the USCIB International Bookstore, which enables customers to learn international business through unique titles covering a range of topics.

Contact:

Elizabeth Cafaro, USCIB

+1 212.703.5087

More on USCIB’s Trade Services

Albania to Begin Accepting Merchandise Passports

Published on February 20, 2013
Skandebeg Square in Tirana, Albania
Skandebeg Square in Tirana, Albania

New York, N.Y., February 20, 2013 – The Balkan nation of Albania is the latest country to join the ATA Carnet system, which will begin to accept ATA Carnets starting February 25, 2013. ATA Carnet country members waive customs duties and taxes on many types of goods brought into a country temporarily, according to the United States Council for International Business (USCIB). The move to accept “merchandise passports” is expected to boost U.S. trade with the country.

“Albania’s decision to honor Carnets further extends the system’s reach in Southeastern Europe,” said Cynthia Duncan, USCIB’s Senior Vice President for Trade Services. “This should be a boon for American companies and business travelers in the region.”

Two-way U.S. trade with Albania amounted to $6.7 billion in 2012. Major U.S. exports include food, transportation equipment, machinery, computer and electronic equipment. The adoption of the ATA Carnet system is expected to help boost and diversify U.S. exports to the country.

USCIB, a private, pro-trade group based in New York, administers the ATA Carnet system in the United States. Worldwide, the system is managed jointly by the International Chamber of Commerce and the World Customs Organization. In 2012, the most recent year for which worldwide figures are available, over 150,000 Carnets were issued, covering goods worth more than $17 billion (U.S.)

Beginning February 25, those visiting Albania may bring product samples, professional equipment and goods for display at trade shows into the country duty-free and tax-free. Carnets are good for one year and can be used in any of the 85 countries and customs territories that honor them. Visit www.merchandisepassport.org for details. Prior to the Albania’s decision, Bosnia and Herzegovina, UAE, and Mexico were the latest territories to join the international system.

About USCIB:

USCIB promotes open markets, competitiveness and innovation, sustainable development and corporate responsibility, supported by international engagement and regulatory coherence. Its members include U.S.-based global companies and professional services firms from every sector of our economy, with operations in every region of the world. With a unique global network encompassing leading international business organizations, including ICC, USCIB provides business views to policy makers and regulatory authorities worldwide, and three valuable trade services to facilitate the international movement of goods. ATA Carnet, commonly known as the Merchandise Passport, allows goods to enter over 85 customs territories tax and duty free for up to one year. eCertificates of Origin, fully electronic processing of Certificates of Origin, returned to you by e-mail, fast and complaint with ICC Guidelines for Certificates of Origin. Finally learn international business with USCIB International Bookstore. More at www.uscib.org.

More on USCIB’s Trade Services

USCIB Expands Its Trade Services With New Electronic Certificates of Origin

Published on July 6, 2012

folder mouse

USCIB recently launched its new electronic Certificates of Origin (eCOs) service.  This new trade service, unveiled at the National Customs Brokers & Forwarders Association of America annual conference, adds to our suite of innovative services for exporters and international business professionals.

Certificates of Origin are international trade documents attesting to the origin of specified goods. Many customs authorities require them to obtain preferential duty rates or to fulfill obligations for letters of credit from a financial institution. USCIB’s eCOs save time and money, bypassing the delay and expense of employing messengers to obtain certification.

After a few simple steps, and certification by USCIB, eCOs can be shared electronically or printed from any computer. USCIB has licensed eCertify, as the software provider to process its eCOs, following in the footsteps of other Carnet Guaranteeing Associations worldwide.

According to Cynthia Duncan, USCIB’s senior vice president for Carnet and trade services, “There are many reasons to enter the CO market, especially as export and customs-related documents are increasingly going digital, allowing for a more efficient model over the current paper-based, messenger-intense standard. As a trusted name in the United States and among customs administrations around the world, USCIB has over four decades of experience in export documentation.”

The International Chamber of Commerce (ICC), the world business organization that USCIB represents in the United States, is working to set international operational standards for COs, through its ICC Guidelines on Certificates of Origin and CO Task Force.

The ATA Carnet Department (recently renamed the Carnet and Trade Services Department) is now managing its online bookstore, USCIB International Bookstore, formerly known as ICCBooks USA. The USCIB International Bookstore specializes in the titles of the International Chamber of Commerce (ICC) and in the future plans to expand its trade-related offerings. The Bookstore is the exclusive distributor of ICC titles in the U.S.

Staff Contact: Cynthia Duncan

More on USCIB’s Trade Services

World Trade Week in New York Celebrates Export Success

Published on May 15, 2012
Rep. Nydia Velázquez (D. – N.Y.) congratulates award winners Kristin McDonough and Peter Bengston of the New York Public Library’s Science, Industry and Business Library.
Rep. Nydia Velázquez (D. – N.Y.) congratulates award winners Kristin McDonough and Peter Bengston of the New York Public Library’s Science, Industry and Business Library.

The global trade community in New York gathered on May 14 to celebrate the contributions of international commerce to the region’s success as World Trade Week was marked by USCIB and an array of pro-trade groups. Several innovative companies and organizations were honored at an awards breakfast hosted by Baruch College’s Weissman Center for International Business.

Rep. Nydia Velázquez (D. – N.Y.) presented an export appreciation award to the New York Public Library’s Science, Industry and Business Library, whose invaluable resources and expertise support international trade outreach and entrepreneurship. In her presentation remarks, Ms. Velázquez applauded the House of Representatives’ vote to reauthorize the Export-Import Bank of the United States

New York City Deputy Mayor Robert Steel delivered keynote remarks, noting that strong exports and presence of many international businesses had helped New York City to outperform the national economy since the 2008-09 downturn. He said the city needed to focus on continuing to generate high-quality jobs, and that Mayor Michael Bloomberg’s administration was taking a number of steps to nurture a pro-startup environment, including the development of the new Cornell-Technion science and technology campus on Roosevelt Island.

USCIB’s Michael Megliola and Justine Kharnak at the ATA Carnet booth
USCIB’s Michael Megliola and Justine Kharnak at the ATA Carnet booth

Cynthia Duncan, USCIB’s senior vice president for trade services, is a member of the World Trade Week 2012 steering committee. The ATA Carnet service, which helps exporters and others speed shipment of goods temporarily to more than 80 countries, duty-free and tax-free, was on display along with other USCIB services at a booth in the exhibition hall.

Other award winners included North Shore International Inc., Karp Associates, Inc., Action Environmental Group, B&H Photo & Electronics Corp., and the Westconn International Trade Association.

Overall more than 300 people attended the awards breakfast, and many more took part in a series of informative events throughout New York City during World Trade Week.

Staff contact: Cynthia Duncan

More on USCIB’s ATA Carnet Export Service

Get Ready for the Mexico G20 Summit With Essential Resources from USCIB

Published on April 5, 2012
G20 leaders are making tracks for Los Cabos, and with informative, time-saving resources from USCIB, so can you.
G20 leaders are making tracks for Los Cabos, and with informative, time-saving resources from USCIB, so can you.

New York, N.Y., April 5, 2012 – Are you planning to cover or attend the G20 Summit in Los Cabos, Mexico this June?  Time-saving, informative resources from the United States Council for International Business (USCIB) can help get you on your way. What’s more, you’ll save money and hassle if you’re bringing video gear or other valuable professional equipment into the country.

USCIB is a business association that serves as the U.S. arm of the International Chamber of Commerce, the world business organization whose online bookstore (www.ICCBooksUSA.net) currently features a timely publication, “The G20 – What it is and what it does: A business guide.”

An essential guide for business executives, policy makers and the media. This handbook explains in detail what the G20 is, traces its origins and explains the reasons for its transformation into a top leadership group. It identifies the critical impacts that G20 policy developments may have on global economic activity and focuses on issues of special interest for business. Click here to order your copy today.

Merchandise passports speed shipment of your gear

Media representatives should know about the ATA Carnet export service from USCIB. Carnets are internationally recognized customs documents that speed delivery of professional equipment, as well as professional samples and goods for trade shows, to over 80 countries and customs territories, duty- and tax-free.

Mexico began accepting these “merchandise passports” last year, just in time for the global media onslaught that accompanies the G20 Summit. Goods brought into Mexico under Carnet and re-exported within one year are not subject to import duties or taxes.

Applying for a Carnet is easy, and Carnets are a simpler alternative to temporary import bonds or other products. More information is available at www.merchandisepassport.org. USCIB has a Mexico Carnet resources page to view click here.

So get informed, get a Carnet, get your gear, and get ready to cover the G20 Summit.

About USCIB:

USCIB promotes open markets, competitiveness and innovation, sustainable development and corporate responsibility, supported by international engagement and prudent regulation. Its members include top U.S.-based global companies and professional services firms from every sector of our economy, with operations in every region of the world.

With a unique global network encompassing leading international business organizations, USCIB provides business views to policy makers and regulatory authorities worldwide, and works to facilitate international trade and investment. More at www.uscib.org.

Contact:
Jonathan Huneke, VP Communications, USCIB
+1 212.703.5043 or jhuneke@uscib.org

More on USCIB’s ATA Carnet Export Service

ICC Books USA online bookstore

Get Ready for the Mexico G20 Summit With Essential Resources from USCIB

Published on April 5, 2012
G20 leaders are making tracks for Los Cabos, and with informative, time-saving resources from USCIB, so can you.
G20 leaders are making tracks for Los Cabos, and with informative, time-saving resources from USCIB, so can you.

New York, N.Y., April 5, 2012 – Are you planning to cover or attend the G20 Summit in Los Cabos, Mexico this June?  Time-saving, informative resources from the United States Council for International Business (USCIB) can help get you on your way. What’s more, you’ll save money and hassle if you’re bringing video gear or other valuable professional equipment into the country.

USCIB is a business association that serves as the U.S. arm of the International Chamber of Commerce, the world business organization whose online bookstore (www.ICCBooksUSA.net) currently features a timely publication, “The G20 – What it is and what it does: A business guide.”

An essential guide for business executives, policy makers and the media. This handbook explains in detail what the G20 is, traces its origins and explains the reasons for its transformation into a top leadership group. It identifies the critical impacts that G20 policy developments may have on global economic activity and focuses on issues of special interest for business. Click here to order your copy today.

Merchandise passports speed shipment of your gear

Media representatives should know about the ATA Carnet export service from USCIB. Carnets are internationally recognized customs documents that speed delivery of professional equipment, as well as professional samples and goods for trade shows, to over 80 countries and customs territories, duty- and tax-free.

Mexico began accepting these “merchandise passports” last year, just in time for the global media onslaught that accompanies the G20 Summit. Goods brought into Mexico under Carnet and re-exported within one year are not subject to import duties or taxes.

Applying for a Carnet is easy, and Carnets are a simpler alternative to temporary import bonds or other products. More information is available at www.merchandisepassport.org. USCIB has a Mexico Carnet resources page to view click here.

So get informed, get a Carnet, get your gear, and get ready to cover the G20 Summit.

About USCIB:

USCIB promotes open markets, competitiveness and innovation, sustainable development and corporate responsibility, supported by international engagement and prudent regulation. Its members include top U.S.-based global companies and professional services firms from every sector of our economy, with operations in every region of the world.

With a unique global network encompassing leading international business organizations, USCIB provides business views to policy makers and regulatory authorities worldwide, and works to facilitate international trade and investment. More at www.uscib.org.

Contact:
Jonathan Huneke, VP Communications, USCIB
+1 212.703.5043 or jhuneke@uscib.org

More on USCIB’s ATA Carnet Export Service

ICC Books USA online bookstore

New Business Guide to the G20 Process

Published on February 28, 2012

4268_image002Business around the world has an increasingly influential role to provide input to G20 decisions regarding economic growth, job creation and open trade and investment. But what is the G20, and what exactly does it do? A new business guide published by the International Chamber of Commerce (ICC), part of USCIB’s global network, sets out to help business leaders and policymakers better understand the G20 process and identify the impact that G20 developments may have on global business.

The guide traces the origins of the G20 and explains its transformation into the world’s leading economic forum for international cooperation. It highlights the principal outcomes of the five summits that have taken place since 2008 and takes a targeted look at issues of particular interest for business. Such issues include restoring global economic growth and stability, promoting open trade and investment, reforming the financial sector, addressing the threat of climate change, fighting corruption, and closing the development gap.

“G20 leaders have already demonstrated their willingness to reach out to business and to listen to its advice. It is now up to business to make its voice heard and contribute ideas to help G20 governments achieve their objectives,” writes Marcus Wallenberg, chairman and CEO of SEB (Sweden) and chair of ICC’s G20 Advisory Group, in his preface to the guide.

The guide will be available for purchase from the ICC Books USA online bookstore beginning March 15. Click here for more information.