Incoterms 2020 Rules

Description

Trainers: Strong & Herd LLP*

What is this virtual seminar about?
International Commercial Terms, commonly known as Incoterms Rules, is a key contract clause needed when moving goods internationally whether as the exporter or the importer. This 2 hour virtual learning sessions reviews what the Incoterms rules do, especially in relation to how the cost of transportation is divided and where the risk of loss or damage falls under each of the 11 terms. Whether you use ExWorks, FOB, FCA or DDP there is never a better time than to learn about the terms or upskill your current knowledge as the new set Incoterms Rules became effective on 1st January 2020. The session includes:
• The 11 terms and why ExWorks and DDP may not be a good idea
• Responsibilities and obligations under each term
• Where risk passes to the buyer and when the seller must insure goods
• The changes to the 2020 set of Incoterms ® Rules

Who should attend?
Everyone who has any connection with sales or purchases and the international supply chain. This seminar will remove misunderstanding and shine a light on which terms are better for your individual business needs. The following are examples of the type of company personnel who need to keep up to date on this topic:
• Newcomers to International Trade – Incoterms starts most processes and responsibilities
• Import and Export Administrators and managers working with the agreed terms
• Purchasing and Sales personnel and managers setting the terms and understanding cost and business implications
• Freight Forwarders and clearing agents who need to know who is responsible for what and who to charge for different services
• Management trainees

Key benefits:

1. If you are buying goods, understand what costs are built into sales price and what you need to pay for separately
2. If you are selling goods, understand what costs you need to build into your sales price and what your customer will have to pay separately later.
3. Understand where sellers risk ends, how that is proven and where customers risk begins. Works nicely with section on Insurance
4. Understand where seller legally delivers goods and conditions applied to this. What does this mean from then onwards for the buyer?
5. Understand each term and how they group into families
6. Comprehend the jargon of and behind the terms. Go through case studies of issues incurred around the world
7. Know who, what and where to approach for further information if required

*Strong & Herd LLP are well respected consultants and trainers in all areas of International Trade. They work closely with H&W Chamber of Commerce and have alliances with the Institute of Export & International Trade (IOE). The International chamber of Commerce ICC, the British Exporters Association (BEXA), Croner (Wolters Kluwer), HM Revenue & Customs (HMRC) and others.