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.
At the beginning of 2020 we will see the introduction of the latest version of Incoterms® known as Incoterms®2020.
Since the UK’s referendum in 2016 to stay or leave the EU, there has been an increase in companies wanting to understand more about import and export processes. Even so, with this surge in interest, Incoterms® is still one area that is most widely used, yet one of the most misunderstood.
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 one day course will provide a comprehensive overview of the new 2020 version of the terms and the differences between the 2010 version.
The course will also enable UK businesses to be much more cost and risk aware, when negotiating new business deals whatever the future international trade environment holds for the UK after BREXIT.
- What are Incoterms®2020?
- What are the changes from the 2010 version to the new 2020 version?
- The benefits the 2020 version offers
- The application of Incoterms®2020
- The impact of BREXIT and the understanding of the correct application in line with any new trade and customs compliance requirements for future trade with the EU
- Understand the features, obligations and responsibilities for each of the terms within Incoterms®2020
- Choose the most suitable Incoterm® for each mode of transport
- Avoid pitfalls and problems from use of unsuitable terms
- The commercial benefits in sales negotiations
- What are the risks and responsibilities of each Incoterm®?
- What are the buyer and seller obligations for each Incoterm®?
Who should attend
This course is designed for companies who export and import goods from both EU and Non-EU markets. The course is mainly designed for:
- Freight Forwarders
- Goods In/Out Personnel
Member price - £320 + VAT*
Non-member price - £420 + VAT
*Please note that only Associate, Full and Business Members are eligible for this preferential rate.
Continuing Professional Development (CPD)
This course is CPD certified - 12.5 points
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