Incoterms® Rules 2010
The Incoterms® Rules are an essential business tool for export import because they define the responsibilities of each party to arrange loading/unloading of the goods, delivery, import export clearance and freight contracts. They may be used in contract negotiations, as a checklist for buyers and sellers and as a framework for international and domestic sales contracts.
International trade is a very complex subject with many different terms, procedures and regulations. Training is essential to successful trading overseas.
Who should attend?
The seminar will be relevant to export sales, purchasing, shipping, finance, customer service staff and senior managers from both exporters and importers as well as those from freight forwarders, shipping and financial institutions.
How will you benefit?
- Maximise legal certainty in transactions
- Understand the general features of the rules
- Examine each rule in detail
- Understand the principal differences between the old and new rules
- Understand the changing obligations of the parties involved
Since the last revision in 2000, there have been fundamental changes in global import export practice and procedures. Cargo security considerations, revised insurance clauses and the continuing evolution of transport infrastructure have modified the supply chain obligations of each party and the necessity of providing specific information at the appropriate time.
The New Incoterms Rules, implemented from 01 January 2011, have been developed to take account of these changes. The number of terms has been reduced from 13 to 11, with four of the old rules being abolished and two rules terms being created. The text for each rule has been updated and rationalised and there are now clear guidance notes for the use of each rule. The New IncotermsRules may now be used for trade both between and within countries and customs – free blocks.
All parties involved in export import in any capacity should clearly understand The New Incoterms Rules to maximise legal certainty in transactions. This half day seminar will consider the general features of the rules and will examine each of them in detail. Principal differences between old and new rules and changing obligations of the parties will be highlighted.
If you are a Business West Chamber of Commerce member you can save 10% on this course, simply contact us for your discount code
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