This course has been designed to help exporters understand Incoterms® - International Commercial Terms - and how to select the correct one for their international transactions.
These global shipping terms have huge importance in the exporting and importing of products from around the globe. They outline the risk and responsibility between the buyer and the seller for each transaction.
The Incoterms® rules are a series of pre-defined commercial terms published by the International Chamber of Commerce (ICC) that are widely used in international commercial transactions or procurement processes. Incoterms training is essential to protect your organisation if a contractual dispute arises during international trade. This course is designed for companies who export and import goods from both EU and non-EU markets.
This half-day course will give you a firm foundation in the use and applications of Incoterms and is suitable for all levels. It is designed for people who may be new to exporting as well as experienced business people who may need to keep up with industry updates typically working in the following roles: sales, shipping, accounts, purchasing/buyers, freight forwarders and goods in/out personnel.
By the end of this course you should be able to:
- Comprehend Incoterms and what the benefits are to the UK importers and exporters
- Understand the risk and responsibility for buyer and seller
- Understand each term, outlining the pros and cons of each
- Recognise the commercial implications of using Incoterms
This course covers all aspects of Incoterms 2010. During the course there are examples highlighting the benefits of using Incoterms both from an operational and commercial point of view. The course highlights why it is so important to understand each of these terms to ensure successful and efficient global business.
The course is composed of 14 modules that will take you through all the elements of understanding Incoterms® 2010. Learning the terminology will help you to better understand 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.
We will cover:
- What are Incoterms®?
- How are they used for export sales
- What are the terms and conditions of each Incoterm
- What are the buyer and seller obligations for each term
- How to select the correct term for a specific transaction
- What are the benefits of one term over another
- What are the risks of one term over another
- What are the commercial benefits of using the correct term
At the end of the course each delegate will receive a comprehensive set of course materials including copies of "Choosing the Right Term guide", "Risk and Cost Obligation Guide" and an "Incoterms® 2010 chart”.