Understand Incoterms Rules 2020

Understand  Incoterms Rules 2020

Incoterms comprise some of the most widely used, but most misunderstood aspects...

Incoterms comprise some of the most widely used, but most misunderstood aspects within international trade; they can impact on a number of areas of a company's operations, including sales, accounts, shipping, operations, compliance and customer service. They are essential terms of trade for the sale of goods.

If used correctly, they can avoid uncertainty, minimise delay and facilitate smooth operations, transport and payment. If you agree to use a term without understanding the full implications for your business, can result in unexpected costs, obligations and delays.

This half day course is intended to provide a comprehensive overview of the purposes, meaning and correct use of Incoterms® 2020, enabling staff in all departments, and at all levels, to use Incoterms® effectively and with confidence.

The course will cover:
• What are Incoterms®?
• What are the changes from the 2010 version to the new 2020 version?
• Understand the obligations and responsibilities for each term in the 2020 version
• Using the most suitable Incoterm® for each mode of transport
• Avoid pitfalls and problems from the use of unsuitable terms
• The commercial benefits in sales negotiations

This course is designed for companies who export and import goods from both EU and Non-EU markets. The content will be applicable for all scenarios post BREXIT.

The course is suitable for people working in: Sales, Shipping/Logistics, Customer Services, Purchasing/Buyers, Freight Forwarders and Accounts.

Incoterms® 2020 is available on ICC's new e-commerce platform ICC Knowledge 2 Go in both print and digital formats.

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