Incoterms – virtual session
October 29 @ 9:30 am - 3:30 pm
Incoterms are updated every ten years, with the changes for 2020 being implemented in contracts from 1st January 2020. The new rules and definitions are designed to keep up with changes in International Trade practices and give greater clarity and accuracy to the terms.
With the added uncertainty of Brexit on the horizon and the implications for trade with Europe, it is important to ensure that you are fully up to date with Incoterms ® and that they are being used correctly in day to day contracts and also for the revision of EU contracts.
- The history and purpose of Incoterms
- An overview of Incoterms® 2020 – new content and presentation
- Key terminology used in the Incoterms® rules
- The obligations of the buyer and seller
- Understanding risks and responsibilities
- The changes from Incoterms® 2010 to Incoterms ® 2020
- Practical issues which influence the choice of Incoterms® rule used
- Exercises to check delegates’ understanding of Incoterms® 2020
- Common mistakes when using Incoterms ®
- Useful sources of information
This half day seminar will explain Incoterms ® and their importance in international trade contracts.
Who should attend?
This course is suitable for staff within an organisation that have a responsibility for negotiating business in overseas markets and/or processing export orders. Sales, logistics and purchasing staff will all benefit from understanding the correct use of these terms.