Understanding the Incoterms 2020 Rules
20 Jan 2021 09:30 - 12:00
Non members: Free
This half-day “virtual” workshop is for anyone working in international trade – from industry newcomers to experienced exporters and/or 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.
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
A review of the 11 Incoterms® 2020 rules
- Division of costs, risks and obligations between seller and buyer
- Case studies – seller and buyer perspectives.
- Why EXW is inappropriate for international shipments
- Are traders taking risks by using FOB, CFR and / or CIF inappropriately?
Managing risk and insurance
- Selecting the appropriate Incoterms® rule
- Incoterms Quiz
Conclusion and close
Course Duration: 9:30 – 12:00 (includes 10 minutes mid-morning break)
This workshop is sponsored by The West Midlands Combined Authority