Logistics Management
Foundation Course in Incoterms 2020
- This foundation course takes you through the concepts of International commercial terms, emphasizing the existing eleven types of International Commercial Terms – Incoterms 2020it includes the use of each incoterm in different modes of transport, its suitable for all to have a clear understanding of the procedures required to ensure to apply the appropriate Incoterm.
- Incoterms are widely used but often misunderstood within international trade. They can impact on several areas of a business including sales, accounts, shipping, operations, compliance, and customer service. If used correctly, they can help you to avoid uncertainty, minimize delays and facilitate smooth operations, transport, and payment.
- An introduction to Incoterms and their importance to international trade. Understand the history and purpose of Incoterms, how they are used, the practical issues to be considered, as well as practical topics such why EXW is not suitable for international trade.
- An understanding of Incoterms is fundamental to international trade. Our training focuses on our learners are adequately supported and skilled to have a clear understanding of the procedures required to ensure to apply the appropriate Incoterm in international trade.
- The problem with international trade contracts is that they end up having different meanings in different countries with respect to obligation of the seller and the buyer in the form of unanticipated disputes occur, the parties get stuck, to help avoid misunderstanding between the parties to these contracts as well as promote uniformity in law, the International Chamber of Commerce (ICC) has published INCOTERMS.
- Contracts for the international sale of goods should indicate the terms of sale, preferable with one of the 11 incoterms.
- History and definition of International Commercial Terms – Incoterms – 2020
- What international commercial terms are
- Why incoterms?
- What incoterms rules don’t do?
- How to you use incoterms rules
- Duties of the parties involved.
- Application of the existing eleven incoterms under Incoterm – 2020
- Objectives and importance of each individual Incoterm
- Obligations of buyer and seller under each Incoterm
- Interpretation with the ready reckoner reference table
- This course provides a comprehensive understanding of the INCOTERMS 2020 rules, which are internationally recognized terms used in international trade contracts. The course focuses on the assessment test and certification of participants, ensuring they have a thorough knowledge of the INCOTERMS 2020 rules and their application in real-world scenarios.
- Throughout the course, participants will learn about the various terms and conditions that govern the responsibilities and obligations of buyers and sellers in international trade. They will gain an in-depth understanding of the latest changes and updates introduced in the INCOTERMS 2020 edition.
- The course is designed to equip learners with the necessary skills to effectively apply the INCOTERMS 2020 rules in their daily business operations. Learners will have the opportunity to enhance their knowledge through practical exercises, case studies, and interactive discussions.
- Understand the purpose and significance of the INCOTERMS 2020 rules.
- Identify and apply the appropriate INCOTERMS rule for specific trade transactions.
- Interpret the rights, obligations, and liabilities of buyers and sellers under each INCOTERMS rule.
- Analyse real-world scenarios to determine the most suitable INCOTERMS rule.
- Mitigate risks and avoid disputes through proper utilization of the INCOTERMS 2020 rules.
- Importers and exporters involved in international trade.
- Academic Students pursuing degrees or courses in international trade, logistics, or related fields, who want to supplement their theoretical knowledge with practical insights into export and import procedures in international trade.
- Entrepreneurial Professionals or Individuals aspiring to start their own export-oriented business or those interested in working in the international trade industry, who want to build a strong foundation in international trade.
- Suitable for all types of businesses, Freight Forwarders, Logistics service providers, students and everyone interested in international trade.
- Anyone who is interested in starting an export business and improving international business skills.
- Trade finance and international salesperson
- What international commercial terms are
- Why incoterms?
- What incoterms rules don’t do?
- How to you use incoterms rules
- Duties of the parties involved.
- Application of the existing eleven incoterms under Incoterm – 2020
- Objectives and importance of each individual Incoterm
- Obligations of buyer and seller under each Incoterm
- Interpretation with the ready reckoner reference table
- Learn about the roles and responsibilities of different parties involved in the export process, including exporters, freight forwarders, customs brokers.
- CPD is recognized internationally as a standard development organization and accrediting body that promotes quality of continuing education, training ensures that you continue to be proficient and competent in your profession while also furnishing you with essential skills that could help you progress with your career.
Krishna Gopal Trivedi
Subject Matter Expert
Expertise Logistics Professional with over 8 years of experience in related logistics supply chain domains.
