Understanding Incoterms 2010 – Implications And Applications

Introduction

INCOTERMS 2010 implemented January 2011 has revised the former 13 terms into 11 terms. The new terms created are DAT and DAP which are more simplified for usage. The contemporary changed business landscape has created a proliferation of trading risks and costs, across ‘borderless’ territories. Along this crucial ‘gaps’ opening, proper usage of INCOTERMS in the decision process and subsequent contractual undertakings, contribute to a stronger contingency plan and defensive resolution in international trading.

How Will You Benefit

Upon completion of this programme, the participants will be able to:

• Updating present guidelines and provisions of Incoterms 2010
• Understanding conflicting variables in the shipping-incoterms-trade payment process
• Adopting contingency plans in mitigating the costs and risks danger factors and issues

 Audience

This program is specially designed for all Executives and Managers in Procurement & Supply; Finance & Cost Control; Marketing & Customer Service; logistic & Distribution and Shipping & Receiving.

Methodology

This stimulating program will maximizes the understanding and learning through lecture, discussion, case studies and practical activities.

Module

• OVERVIEW OF INCOTERMS IMPLIED UNDERTAKINGS AND DISPUTE FACTORS
• UNDERSTANDING THE CONTRACTUAL AND VOLATILE SCOPE OF INCOTERMS
• FAMILIARIZING THE MAJOR TERMINOLOGIES OF INCOTERMS AND SHIPPING
• CATEGORIZING THE MAIN GROUPING OF THE 11 INCOTERMS USAGE
• POSITIONING THE AGGREGATE TERMS INTO AIR, SEA, GROUND EXECUTION
• PLOTTING THE COSTS AND RISKS LINES BETWEEN SELLER AND BUYER
• THE 2010 RULING OF CHAIN OF CUSTODY AND STRING SALES TRANSACTION
• THE 2010 RULING OF CONTROL AND COMPLIANCE FACTORS PROVISIONS