What you'll learn:
- Understanding Pros and Cons in choosing an Incoterm in a trade contract
- Visualize the flow of costs, risks and responsibilities in Incoterms 2020
- How to practically apply Incoterms 2020
- Understanding differences between Incoterms 2010 and Incoterms 2020
Incoterms ® 2020 is the backbone of contracts in import-export businesses and international trade. If an incoterm is chosen without understanding its practical applicability and pros and cons, then it can very well cost you dearly at a later stage of the trade.
This course covers-
Understanding the Nomenclature
Understanding the difference between Place of Delivery, Destination, and Final Destination of Goods
Rules for all modes of transport
Maritime Rules
Clustering of Incoterms according to responsibility
Varying definitions of 'Delivery' in different Incoterms
Maritime Rules and Container Shipments - Why is it such a big No?
Caution Using EXW
FCA and On Board Bill of Lading - Is it really a solution?
Transport Documents - Responsibilities in Different Incoterms ® in a Nutshell
Export/Import Clearance - In a Nutshell
Allocation of Costs - In a Nutshell
Analysis of the D Rules - How choosing the D rules can affect you
Understanding the Compatibility - Letter of Credit and Incoterm Rules 2020
Possible Checkpoints and Key Learnings for Incoterm Rules 2020
Differences between Incoterms ® Rules 2010 and Incoterms ® Rules 2020
Case Studies
This course is meant for -
Importers and Exporters - Signing contracts without understanding Incoterms can be catastrophic
Bankers handling trade documents - Know the risk your bank bears while handling trade documents with a chosen incoterm and be better equipped to make decisions and advice customers
Anyone in the Logistics and Transportation Industry - You are the one who materializes the actual steps of a chosen incoterm in a trade contract
This course is compact. It not only covers the basic cost and risk bifurcation between buyers and sellers but includes a thorough analysis of the practical applicability and hindrances faced in using each incoterm.
The course is carefully curated to include learning from the masters of logistics, trade, and banking industries, their best advice and do’s and don’ts.
Starting from the basic understanding of the incoterm rules nomenclature to a detailed analysis of the consequences of using DAP incoterm for LCL cargo, this course covers everything from beginner to intermediate to advanced learnings.
And each and every term or concept used in this course has been explained from scratch, so even if you are a beginner learning Incoterm Rules you will be completely at ease with the pace of this course.
Also, this course uses engaging visual animations to explain each concept in a way the learning remain etched in your memory.
This is not just a theoretical dictation of the incoterm rules chart but a practical guide and is meant for the exporters, importers, anyone in the logistics industry, and for bankers handling trade documents.
