This course is suitable for those working in an export environment and it is suggested that they have already completed the Export course where Incoterms are introduced.

The course provides an overview of the changes that have taken place between the previous 2010 terms and new 2020 terms. It also provides a comprehensive guide on the obligations and costs that a Buyer and Seller have during a sale to include where risk passes during the transaction from Seller to Buyer.

The agenda and course objectives are as follows:

• Incoterms – what are they?
• Incoterms – the history
• An explanation of Incoterms®, what they ‘do’ and ‘do not do’
• Discuss what documentation they apply to
• Review each of the Incoterms® 2020 in detail
• Understand the risks, costs, and obligations for both the Buyer and Seller
• The main changes from Incoterms® 2010
• To be able to correctly classify shipments to reflect the mode of transport and be appropriate for the goods

This qualifies for 1 credit in The Foundation Award in International Trade.