This course is a must for anyone in International Trade from freight forwarders, logistic and contracts staff through to International Sales Executives, finance directors and CEO’s. It is ideal for both beginners through to experienced professionals who need to up-date themselves on the new Incoterms 2010 rules which came into force on the 1st January 2011.
Incoterms are used internationally to determine buyers and sellers risks and responsibilities in international contracts. Failure to use them correctly puts your company at risk especially if you trade under Ex-Works or DDP terms.
This one day course gives a clear explanation of each term and allows time for delegates to concentrate on their own requirements individually or in group sessions.
Since the incoterm rules were introduced in 1936, they have been revised about once a decade to keep up with the rapid expansion of trade. Cargo security is now at the forefront of the transportation agenda for many countries.
Programme of Topics:
1. WHAT ARE INCOTERMS? 80 years in use. A short review of the history and development of Incoterms ® since their inception in 1936, why they have been revised in 2010
2. WHAT THE INCOTERMS RULES DO
3. PRACTICE AND THEORY
4. Incoterms at work –“use and abuse”.
5. The four groups and the eleven terms examined in respect of delivery, division of costs, risks and obligations etc.
6. Incoterms and modes of transport – the conventional sea freight factor
7. Common misunderstandings examined and eliminated
8. Legal implications of the terms and implications of misusing a term
9. Risk – who is responsible if the goods are lost or damaged – how does this affect insurance policies
10. PUTTING INCOTERMS INTO PRACTICE. Import and Export Policy: some general advice and conclusions. What to do with the new “D” Terms.
11. SALES – PROCUREMENT – LOGISTICS – The different viewpoints – how to achieve harmony and come to an agreed Incoterms policy