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The Essential Guide to Incoterms

3-hour course  |  3 CPD hours

£269 +VAT per person

This course can be presented in-house at your premises. You can find out more about our in-house training here.

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Home > > The Essential Guide to Incoterms

The Essential Guide to Incoterms

3-hour course

Course overview

Now fully updated to reflect the changes introduced by Incoterms 2020

When exporting or importing goods, selecting the most appropriate Incoterm* for the contract of sale or purchase can be very challenging. The commercial implications of the terms are often misunderstood and as a consequence, there are risks of incurring unnecessary costs and contractual disputes with your customers and suppliers. These risks now apply to UK businesses trading with the EU, as post-Brexit they are regarded as importers and exporters.

This half-day course provides a complete understanding of Incoterms and their relevance to your business. It explains the risk and cost responsibilities of each term for both the customer and the supplier. The course examines the potential consequences of using each particular term in an overseas supply contract and their implications for domestic trade. In particular it will explain the obligations of the parties when...

  • Arranging the loading and unloading of the goods
  • Using freight forwarders and carriers, and
  • Getting the goods through customs clearance

The course will help you avoid many of the potential problems that can arise in commercial agreements between companies trading internationally. It provides a useful checklist for buyers and sellers and it a framework for avoiding disputes that typically happen in international trade.

*Incoterms is a registered trademark of the International Chambers of Commerce.

Who should attend?

This course will help people at all levels of sales and purchasing - from senior management through to the people who deal with the administration. It also helps people in logistics and shipping roles as well as those working in the finance department.

What will you learn?

  • How do the Incoterms rules define the shipping obligations of the buyer and seller?
  • Which aspects of a trade contract are not covered by Incoterms rules?
  • What are the features of the latest Incoterms rules?
  • Which version of the Incoterms rules should be used?
  • What are the rules on electronic communication?
  • How are the risks apportioned between the parties?
  • What are the security implications for the parties in Incoterms?
  • How should costs for Terminal Handling Charges be allocated?
  • Which are the most appropriate Incoterms for 'string' sales?
  • What are the documentary obligations implied by Incoterms?
  • A discussion of the relative benefits for exporter and importer of each of the following Incoterms:
    • Ex-Works
    • Free Carrier
    • Carriage Paid
    • Carriage and Insurance Paid
    • Delivery at Terminal
    • Delivery at Place Uploaded
    • Delivery at Place
    • Delivery Duty Paid
    • Free Alongside Ship
    • Free on Board
    • Cost and Freight
    • Cost, Insurance and Freight

Extra benefits

  • A course pack containing the information presented on the day
  • A certificate of attendance