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Skill Overview

Accredited by the British Chambers of Commerce.  The new set of Incoterms was introduced at the start of 2020 and this course will provide an update on the changes.    As import and exports increase and the volume of products moved between different countries is looking to grow further into the future, more clarity on protection for both parties in a transaction is becoming more important.  One of the best ways of doing this is by using INCOTERMS (International Commercial terms) rules, published by the International Chamber of Commerce (ICC). The 2020 update has recently been launched. INCOTERMS rules define the responsibilities of the buyer and seller with respect to the packing, transportation and insurance of goods as they are transferred from the seller to the buyer. INCOTERMS rules can be invaluable for shifting costs and liability associated with exporting, importing and shipping and for avoiding disputes down the road but only if companies understand how to use them properly. INCOTERMS help exporters and importers avoid misunderstandings by clearly defining each other's responsibilities in the delivery of goods.

Learning Objectives

Key Learning objectives and outcomes of the course:  What are Incoterms? What are the benefits of using Incoterms for both buyer and seller? Explanation of the risk and responsibility for buyer and seller. The obligations for both buyer and seller. Explanation of each term outlining the pros and cons of each. The commercial implications of using Incoterms. The implication on Customs Declarations The correct application for the correct mode of transport. Issues that can be avoided by understanding how to use the terms. Incoterms 2020

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