This course has been designed to help exporters understand Incoterms®2020 and how to select the correct one for their international transactions. Incoterms®2020 came into effect on 1 January 2020 and were designed to consider the newest developments in trade and make them easier to use.
These global shipping terms have huge importance for the exporting and importing of products around the globe. They outline the risk and responsibility between the buyer and the seller for each transaction.
The course will take you through all the aspects of understanding Incoterms®2020. Learning the terminology will help you to understand better how to cover the risks and responsibilities between the buyer and seller, their obligations to each other for the shipment, and the allocation of costs.
The course outline is as follows:
· What are Incoterms?
· What are the changes between Incoterms 2010 and 2020
· The terms and conditions of each Incoterm
· How to select the correct Incoterm for a specific transaction
· The benefits of one Incoterm over another
· The risks of one Incoterm over another
During the course, there are examples highlighting the benefits of using Incoterms both from an operational and a commercial point of view. The course will highlight why it is so important to understand each of these terms to ensure successful and efficient global business.
WHO SHOULD ATTEND?
The course is designed for people who may be new to exporting as well as experienced exporters who may need to keep up with industry updates. The course is mainly designed for sales, shipping, accounts, purchasing/buyers, freight forwarders and operations personnel.