Understanding & Applying Incoterms 2020
Delve into the fundamental concepts Incoterms and develop the expertise to discern their associated obligations, costs, and risks, in order to apply them proficiently.
Our Understanding & Applying Incoterms 2020 course is designed to provide you with a comprehensive understanding of the latest Incoterms rules and their practical application in international trade. Incoterms, or International Commercial Terms, are globally recognized standards used to define the responsibilities of buyers and sellers in international transactions, specifying who is responsible for the shipment, insurance, customs clearance, and other activities.
This course delves into the intricacies of each Incoterm, providing clear explanations of their meanings, implications, and suitability for different trade scenarios. You will also gain a deep understanding of how to select the most appropriate Incoterm based on the nature of the goods, mode of transport, and desired level of risk and responsibility.
Learning Objectives
- Grasp the fundamental concepts and significance of Incoterms and their relevance in international trade.
- Distinguish between various Incoterms and discern their respective costs, obligations, and associated risks
- Analyze real-world trade scenarios and case studies by selecting optimal Incoterms for different situations.
Module 1: Introduction to Incoterms
Module 2: Ex Works (EXW)
Module 3: Free Carrier (FCA)
Module 4: Carriage Paid To (CPT)
Module 5: Carriage & Insurance Paid To (CIP)
Module 6: Delivered at Place (DAP)
Module 7: Delivered at Place Unloaded (DPU)
Module 8: Delivered Duty Paid (DDP)
Module 9: Free Alongside Ship (FAS)
Module 10: Free On Board (FOB)
Module 11: Cost and Freight (CFR)
Module 12: Cost Insurance and Freight (CIF)
Module 13: Choosing the Right Incoterm
Module 14: Practical Application and Case Studies
1 Mar, 2024
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Course Launched
