Effective Uses and Applications of INCOTERMS in International Trade

Course details

Incoterms are the trade terms that are key elements to international trade contracts. Understanding the terms is crucial and necessary to avoid costly misunderstanding in business.

PROGRAMME OBJECTIVES

This seminar will develop and extend your knowledge of these terms in details and how to apply them in a practical manner. You will learn how to use the terms to your advantage. You will also understand the rights and obligations of the buyer and seller. This course will show you how Incoterms can be a powerful tool in your business dealing.

PROGRAMME OUTLINE

1. Introduction to Incoterms
2. Reasons for using Incoterms
3. Comparing the old and new terms
4. What are the changes in the new Incoterms
5. Incoterms and the modes of transportation
6. Meaning of the specific terms such as EXW, FCA, FOB, CFR, CIF, etc
7. Understanding the passing of risks
8. Incoterms and implications in the sales contract
9. Obligations of seller and buyer
10. How to do quotation and prevent losses
11. How to choose the right terms and use it to your advantages
12. Understanding the expenses and responsibilities
13. Handling of disputes and conflicts in the Incoterms
14. Implication of Provisions in the Incoterms
15. Using Incoterms in business negotiation
16. Case study