Understanding Incoterms

A half-day course which examines the relevance of Incoterms to your business and explains the changes that are included in the newly-revised delivery terms defined in Incoterms 2010 (applicable to all contracts of sale or purchase from 1.1.2011).

What are the benefits to your Company?

Introduces important changes to the current Incoterms that will apply from January 2011
Provides an easy understanding of the contractual implications of the terms that are in daily use (but often misinterpreted!)
Allows your company to choose appropriate terms to set up sound deals
Explains the critical importance of the event of delivery in a sale or purchase of goods

Prepares your company successfully to resolve commonly-encountered disputes

Who should attend?

International sales and purchasing managers – the crucial ‘deal-makers’
Sales and purchasing staff who process and administer international sales contracts

Finance personnel who need to know whether and when to issue and pay invoices

Course outline

Introduction to Incoterms – what is it, what does it clarify, how widely is it used and how may we apply the Incoterms? Structure and layout – reading the terms to your advantage. The relevance of delivery and the passing of risk.
Incoterms 2000 and 2010 compared – from 13 to 11 terms
Introduction to the changes – the new terms
Terms applicable to domestic sales and trade across the Single Market
Re-classifications to reflect appropriate modes of transport
Security issues – seller’s and buyer’s clearance obligation

Incoterms and the revised Institute Cargo insurance Clauses
Analysing the most commonly used terms and discussion of the implications to your business

Incoterms case studies

Workshop tutor: Janet Philips

Workshop dates in 2012: 12 January I 3 May I 20 November