When exporting or importing goods, selecting the most appropriate Incoterm for the contract of sale or purchase can be very challenging. The commercial implications of the terms are often misunderstood. As a consequence, there are risks of incurring unnecessary costs and contractual disputes with your customers and suppliers.
This half-day course examines the relevance of Incoterms* to your business. It will consider the risk and cost responsibilities of each term for both the customer and the supplier. It offers a useful checklist for buyers and sellers and it will provide a framework for avoiding disputes that typically happen in international trade.
The course examines the potential consequences of using each particular term in an overseas supply contract and their implications for domestic trade. In particular it will explain the obligations of the parties when; arranging the loading and unloading of the goods; they are in the hands of freight forwarders and carriers; and when the goods are going through customs clearance.
Who should attend?
This course will help people at all levels of sales and purchasing - from senior management through to the people who deal with the administration. It also helps people in logistics and shipping roles as well as those working in the finance department.
- A Seminar Pack containing the information presented on the day
- A Certificate of Attendance
What this Incoterms course will cover:
- How do the Incoterms rules define the shipping obligations of the buyer and seller?
- Which aspects of a trade contract are not covered by Incoterms rules?
- What are the features of the latest Incoterms rules?
- Which version of the Incoterms rules should be used?
- What are the rules on electronic communication?
- How are the risks apportioned between the parties?
- What are the security implications for the parties in Incoterms?
- How should costs for Terminal Handling Charges be allocated?
- Which are the most appropriate Incoterms for 'string' sales?
- What are the documentary obligations implied by Incoterms?
- A discussion of the relative benefits for exporter and importer of each of the following Incoterms:
- Free Carrier
- Carriage Paid
- Carriage and Insurance Paid
- Delivery at Terminal
- Delivery at Place
- Delivery Duty Paid
- Free Alongside Ship
- Free on Board
- Cost and Freight
- Cost, Insurance and Freight
After 20 years of commercial and industrial experience in the building services, civil engineering and energy sectors, Peter became an international trade trainer in 1997 specialising in export and import procedures, documentation and customs compliance, shipping and logistics and letters of credit. He has delivered training courses at locations throughout the UK and Europe
*Incoterms is a registered trademark of the International Chambers of Commerce.