Incoterms is used to refer to International Commercial Terms for sale/trade worldwide. These rules are a set of standard terms and conditions designed to help traders when goods are sold and transported. Each rule specifies the obligation of each party and the point at which risk transfers from the seller to the buyer. Incoterms, if incorporated into sales contracts, acts as a mediator to share responsibility and risks between the seller and buyer, thus reducing chances of a dispute. Inclusion of Incoterms eliminates uncertainties of different interpretations of trade terms in different countries.
This Incoterms 2020, Customs Process & Trade Financing International and Domestic Trade training course will provide knowledge on the different type of Incoterms, understand the rules, benefit and risk.
By attending Incoterms 2020, Customs Process & Trade Financing International and Domestic Trade workshop, delegates will learn to:
- Understand the purpose of Incoterms in trade
- Acquire the understanding of the rules of Incoterms
- Understand the benefit and risk associated with the Incoterms learned
- Implement the knowledge gain to activate the right steps when dealing with such rules
- Develop ability to choose the proper Incoterms for delivery
- Understand the risk mitigation process in selling or buying
- Understand basic Letter of Credit and Documentary Collection payment method
- Understand the risk and benefit of Letter of Credit and Documentary collection
- Understand the purpose of Bank Guarantee in International Trade