Incoterms (International Commercial terms) are rules for International Trade which allocate the division of responsibility between the Shipper (usually the supplier) and the Consignee (usually the buyer) in the process of shipping the goods from one to the other.
After going through Understanding Incoterms training participants will understand and learn about:
- Understand how the Incoterms are used in international trade transactions.
- Understand how to calculate export prices based on Incoterm.
- Understand the export process, skill sets required and assess your company’s readiness to export.
- Determining the most appropriate Incoterm for business needs.
- Understanding where risk and responsibility lie during the export or import of goods.
Who Should Attend :
Top Managements Finance Departments
Export Sales Administrations Account Managers
Shipping Administrations Logistics Departments
Sales & Purchasing Managers
Benefits of Attending
This training workshop will help participants to understand the matters relating to the rights and obligations of the parties to the contract of sale with respect to the delivery of goods sold.
Understanding Incoterms training workshop will offer following benefits:
- Better understanding of the task, cost and risk implications of Incoterms.
- Reduced risk in international trade.
- Recognize problems that may arise from incorrect use of the Incoterms.
- Explore the risks and advantages of each Incoterm from the seller’s perspective and the buyer’s perspective.
- Identify the best distribution channel and method of pricing your product.
- Assess the value and potential of trade leads, missions, and shows.
- Having a clear understanding of who has responsibility for costs incurred in shipments.
- Gain proficiency in writing contracts of sale and reviewing purchase orders.
Introduction to Incoterms
Definition of Incoterms, What are the Incoterm Rules?, What the Incoterms Rules Do?, Old Incoterms: What do we do now? Examines old Incoterms, What they are and What they are NOT
Understanding and Using the Incoterms Rules
How to use the Incoterms Rules?, Changes on the current Incoterms, Legal and Commercial implications, Obligations and responsibilities of Buyers & Sellers
Additional Important Considerations in International Trade
Difference between Delivery & Risk Transmission, Risks involved & Additional Considerations, Legal Framework & Jurisdiction, Conflicts & Negotiation Alternatives, The Incoterms 2010 Rules
Incoterms 2010 Rules for any Transportation Mode
Ex works – Incoterms 2010, Free Carrier – Incoterms 2010, Carriage Paid To – Incoterms 2010, Carriage and Insurance Pad To – Incoterms 2010,
Delivered At Place – Incoterms 2010, Delivered At Terminal – Incoterms 2010, Delivered Duty Paid – Incoterms 2010
Incoterms 2010 Rules for Maritime and Fluvial Transportation
Free Alongside Ship – Incoterms 2010, Cost and Freight – Incoterms 2010,
Cost Insurance and Freight – Incoterms 2010, FOB – Cost Insurance and Freight – Incoterms 2010
Feedback From Past Participants
“This workshop helped us to better understanding of the task, cost and risk implications of Incoterms.”
“This workshop had the knowledge about the changes that were made when Incoterms 2010 was enacted.”
“The trainer guidance has helped us to understand what the Incoterms are and how they serve as an international standard.”