The next edition of Incoterms will be released in Autumn 2019 for implementation from 1st January 2020.
Incoterms or International Commercial Terms are a series of pre-defined commercial terms published by the International Chamber of Commerce (ICC) relating to international commercial law. Understanding is fundamental to international trade and this course covers not only a detailed view of the terms, but also the changes that will be introduced in 2020 revision.
Some working knowledge is required but if you are already working with Incoterms 2010, it is essential that you learn about the updates that have been made.
The course covers the history and background of Incoterms, new vs old terms, a review of the key definitions, overview of what they cover and, as importantly, what they don’t cover. The day includes an interactive “deep dive” into the terms.
This course gives delegates a detailed view of Incoterms, focusing on the commercial implications of each term – risks, costs, obligation and responsibilities. This feeds through into how a simple misunderstanding could affect profits in the company and gives them the ability to respond to any future international enquiry with confidence.