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
- Introduction to Incoterms
- Reasons for using Incoterms
- Comparing the old and new terms
- What are the changes in the new Incoterms
- Incoterms and the modes of transportation
- Meaning of the specific terms such as EXW, FCA, FOB, CFR, CIF, etc
- Understanding the passing of risks
- Incoterms and implications in the sales contract
- Obligations of seller and buyer
- How to do quotation and prevent losses
- How to choose the right terms and use it to your advantages
- Understanding the expenses and responsibilities
- Handling of disputes and conflicts in the Incoterms
- Implication of Provisions in the Incoterms
- Using Incoterms in business negotiation
- Case study
Course Location
About SMF Centre for Corporate Learning
The Singapore Manufacturing Federation (SMF), formerly known as the Singapore Manufacturers' Association, was first established in 1932. Its main aim is to champion the Singapore manufacturing sector. With a membership of over 2,800 corporate members ranging from MNCs to SMEs, SMa carries out a myriad of activities to enhance the competitive edge of our members.
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