In response to the huge impact of Corona Virus on Businesses,
the Tema branch of the Ghana National Chamber of Commerce & Industry held a One-Day Legal Education Workshop to train Business Owners on Contracts, INCOTERMS 2020 & Legal Shipping Documents.
The Chamber, haven noted an emerging increase in Contract Conflicts amongst Businesses invited experts in CONTRACTS, INCOTERMS and Maritime Law to assist Business Executives weather the storms.
A Gimpa Law Lecturer and International Law Expert, Mr. Tuinese Amuzu and Ms Sandra Opoku, the Director of Port –Tema and a Maritime Lawyer took members through the tenets of writing & signing Contracts, Negotiation skills, INCOTERMS 2020 and Legal Shipping Documents. Mr. Amuzu advised Participants not to hurriedly sign Contracts but rather take time to read thoroughly and not to compromise on seeking the services Legal Practitioners for the interpretation and use of the right clauses. The Director of Port, Ms Sandra Opoku sharing real-life experiences at the Ports, admonished Participants to scrutinize the Shipping documents they sign and work with and emphasized the importance of terminologies used.
In all, over 50 CEOs and Management Personnel of Businesses from various sectors of the economy; Manufacturing, Construction, Logistics, Health Services, Education, Supply Chain, etc. in Accra & Tema took part in this Workshop.
In his opening address, the Tema Regional Chairman of the Chamber, Mr. Isaac Barry underscored the timing and relevance of the Training. He explained that, with Ghana ranking 116th on the World Bank’s 2019 Doing Business Report for Enforcing Contracts and the seemingly long time it takes to resolve Contract cases in court, it was imperative that Business Executives got it right to avoid the delays and the financial cost associated with Contract Conflicts.
The 1st Vice President of the Chamber, Mrs. Victoria Hajar together with the 2nd Vice President Mr. Stephane Miezan highlighted the significance of the various changes made in the INCOTERMS 2020 to business negotiations and encouraged Participants to take the training very serious. They also expressed their profound gratitude to the resource persons for taking time off their busy schedules especially at the time of the year to interact with businesses.
Incoterms 2020 rules are a set of Commercial International Terms published the International Chamber of Commerce (ICC) to facilitate commerce around the world. This which is recognized globally helps prevent confusion in Foreign Trade contract by clarifying the obligations by buyers and sellers.
The training was very interactive, with Participants sharing personal accounts of challenges with Contracts whiles receiving answers to all their many questions. Participants were very appreciative of the Chamber’s timely response to organizing the training and called for more of such programs in the coming year. All Participants received Certificates of Participation with a Pledge to practice what they have learnt.
The Regional Manager, Mr. Daniel Osei Torgbor was full of Praise for the Sponsors of the event; B5 Plus Ltd., Logical Maritime Services Ltd., Wilmar Africa Ltd. (Producers of Frytol Oil and Fortune Rice) and Baafo Plus Ltd.