PROGRAMME OVERVIEW
The Incoterms® are the different types of shipping terms (via land, air, sea) used in all kinds of international trade transactions. The Incoterms® rules have become an essential part of the daily language of trade as an incorporated part of contracts for the sale of goods worldwide. It provides guidance to importers, exporters, lawyers, transporters, insurers and students of international trade.
The new rules of the Incoterms® are massive, sweeping as well as practical. These changes will have a tremendous impact on the trade documentation of exporters, importers, traders, bankers, insurers, freight forwarders and carriers, and will have critical implications for their businesses. Understanding these new rules and incorporating their use in sales contracts eliminates the uncertainties, errors and costly mistakes in the interpretations created in trade transactions.
TARGET AUDIENCE
Staff involved in worldwide sale
LEARNING OBJECTIVES
- Define purpose of the Incoterms®
- Understand and apply common commercial language used
- Understand differences between Incoterms® 2010 and 2020
- Understand main changes for the new Incoterms® 2020
- Determine roles of the Incoterms® in international contracts of sale
- Determine types of shipping document with respect to destination of shipment
- Explain import and export procedures
- Identify types of risk and international payment
- Identify type of Goods & Services Tax
DURATION
1 day/2 days
CONTENTS
I. Shipping practices and cargo handling
II. Cargo insurance and claims
III. International shipping strategy and fraud prevention
IV. Economics of international trade
V. International trade financing and banking practices
VI. Laws and practices of international trade
