Incoterms 2010/2020: Implications & Applications Factors In International Trade
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Upon completion of this programme, the participants will be able to:
- Updating present guidelines and provisions of Incoterms 2010
- Understanding conflicting variables in the shipping-incoterms-trade payment process
- Adopting contingency plans in mitigating the costs and risks danger factors and issues
IntroductionINCOTERMS 2010 implemented January 2011 has revised the former 13 terms into 11 terms. The new terms created are DAT and DAP which are more simplified for usage. The contemporary changed business landscape has created a proliferation of trading risks and costs, across 'borderless' territories. Along this crucial 'gaps' opening, proper usage of INCOTERMS in the decision process and subsequent contractual undertakings, contribute to a stronger contingency plan and defensive resolution in international trading.
Who Should AttendThis program is specially designed for all Executives and Managers in Procurement & Supply; Finance & Cost Control; Marketing & Customer Service; logistic & Distribution and Shipping & Receiving.
MethodologyThis stimulating program will maximizes the understanding and learning through lecture, discussion, case studies and practical activities.
The International Commercial Terms has moved into the 2010 versions for usage in the contract of sale. Highlights being the formulation of DAT and DAP as the new rulings under seller’s risks and costs. The contemporary changes business landscape has created a proliferation of trading risks and hidden costs across borderless territories. In these crucial risk gaps, proper understanding and application of Incoterms would contribute to a viable contingency plan in and out of the distribution chain. A stronger defensive resolution would be in place against all contractual predicaments.
- Understanding the provisions and classification of Incoterms 2010
- Learning the contractual and operatives constraints of Incoterms
- Managing the risks and costs in the Incoterms distribution chain
- Knowing the 4D’s roadmap of incoterms strategic planning
- Understanding the simplified operational factors of the 4C’s
- Being familiar with the comparison illustration of Incoterms 2000 and 2010
- Knowing the advantage attributes of incoterms contractual documentation
Designed for all executives and managers in procurement & supply; finance & cost control; marketing & customer service; logistic & distribution, shipping & receiving, finance and costing
This stimulating program will maximize understanding and learning through lectures, discussions, group interactive activities and case reference
- The 4D’s of Define, Design, Detect, Defend in planning stage
- The 4C’s of Carriage, Customs, contracts, Control in the chain
- The Seller and Buyer terms of Payment, Sales, Delivery, Title
- The Responsibilities And Obligations Of The Seller And Buyer
- The Division And Diversion Of The Costs And Risks Factors
- The Closure Of The Supply And Delivery Contractual Gaps
- Carrier And Shipper In The Contractual Implication
- Delivery And Obligation Of Seller And Buyer Context
- Packaging And Packing Requirement In Shipping
- By Sea And Water-Way Transport Versus Other Transport Modes
- By All Transport Modes With Cargo Unloaded At Destination
- By All Transport Modes With Cargo Loaded At Departure
- The terms and ruling of CIF, CFR, CIP, CPT
- The terms and ruling of EXW, FOB, FCA, FAS
- The terms and ruling of DAT, DAP, DDP
- The Positioning Of The Port, Point, Place And Premise
- The Allocation Of The First Carrier And Loading Of Cargo
- The Movement Of The Demarcation Area Of Responsibility
- Understanding The Security Threats And Avoidance
- Understanding The Preservation Of Cargo Inherent Nature
- Understanding The Fulfillment Of Ownership Transfer
- The contract of insurance and carriage executed
- The transfer of risks and allocation of costs required
- The tendering and terminating of delivery obligated