Understanding the Incoterms 2020 Rules

Tuesday 15 Oct 2024 | 09:30 - 12:30

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Location

Online Event

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Cost

  • Member Rate: £200.00
  • Non Member Rate: £250.00
*Prices displayed exclude VAT

About this event

How can your business work efficiently and safely within the commercial terms (‘Incoterms® 2020’) defined by the International Chamber of Commerce?

This half-day “virtual” workshop is for anyone working in international trade – from industry newcomers to experienced exporters and/or importers. It is also appropriate for corporate service providers and advisers, including freight forwarders, banks and accountants.
It gives you:
  • a clear understanding of how the Incoterms® rules map out the obligations, costs and risks involved in the delivery of goods from sellers to buyers
  • a practical guide to correctly applying Incoterms® rules to your global sales and purchasing activities
  • the opportunity to review practical case studies based on a range of scenarios.
The following topics are covered:
Introduction and background to the Incoterms ® rules.
Functionality of the Incoterms ® rules
Classifications and groups
  • Rules for any mode or modes of transport
  • Rules for sea and inland waterway transport
What changed in the recently published Incoterms® 2020 rules?
A review of the 11 Incoterms® 2020 rules
  • Division of costs, risks and obligations between seller and buyer
  • Case studies – seller and buyer perspectives.
Commonly misused terms and how to avoid the consequences
  • Why EXW is inappropriate for international shipments
  • Are traders taking risks by using FOB, CFR and / or CIF inappropriately?
    Managing risk and insurance
Putting Incoterms® 2020 into practice
  • Selecting the appropriate Incoterms® rule
  • Incoterms Quiz
    Conclusion and close
      
    Course Duration: 9:30 – 12:30 (includes 10 minutes mid-morning break)

For more information please email training@blackcountrychamber.co.uk