The end of the EU Transition Period on 31st December 2020 will bring into sharp focus the use and meaning of Incoterms®. Those who have previously only traded between the UK and the EU will find that a review of their contracts of purchase and sale will be required and very likely an adjustment to Incoterms®.
This popular training course offers not just a description of each term but a detailed guide to the benefits that can be obtained by their strategic use and the issues, problems, costs and legal liabilities that can arise by careless or misinformed usage.
Incoterms® 2020 clarify the apportionment of responsibility, cost and risk throughout the transit of the goods including who will be taking the essential roles of exporter and importer of record bearing legal liability for customs matters. The risks involved often far outweigh the simple question of who is paying for the import duty and taxes which will be particularly relevant following Brexit.
All eleven Incoterms® are covered in this essential training course with practical examples of how, when and why they should or should not be used:
EXW Ex Works
FCA Free Carrier
CPT Carriage Paid to
CIP Carriage and Insurance Paid to
DAT Delivered at Terminal
DAP Delivered at Place
DDP Delivered Duty Paid
FAS Free Alongside
FOB Free on Board
CFR Cost and Freight
CIF Cost, Insurance and Freight
This course is designed for anyone who needs a greater understanding of the use and implications of Incoterms® 2020 in the global movement of goods including their role in customs compliance, insurance and cost control. Practical examples of best practice in differing environments and situations will be explored along with common pitfalls and solutions.
Attendees will gain not just a sound understanding of the terms themselves but more importantly the information required to use Incoterms ® 2020 to their advantage and to understand the implications and benefits of their use to aid quotation, procurement and sales contract negotiation.
All modes of transport will be covered.
The course runs from 10am to approx. 12.30pm. Delegates will receive copies of the slides.
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