Incoterms®

A practical workshop for exporters and importers

Incoterms® – overview

How can your business work efficiently and safely within the commercial terms defined by the International Chamber of Commerce – the Incoterms®?

Full details below or download course outline.

Learning objectives

This workshop gives you:

  • A clear understanding of how Incoterms® map out the tasks, costs and risks involved in the delivery of goods from sellers to buyers
  • A practical guide to correctly applying Incoterms® rules to your global sales and purchasing activities
  • The chance to work on your own firm’s needs, in groups or individually
Who should attend?

Anyone working in international trade – from industry newcomers to experienced importers or exporters.

Course format

A very practical, case study based, interactive one-day session for a maximum group size of 12.

Expert trainer

Mark is a qualified member of the Institute of Export (MIEx, CITA) with 40 years’ experience in international trade finance. He is a member of the International Chamber of Commerce (UK) with strong links to the ICC Banking Commission, which helps ensure that all his courses are guaranteed to be relevant, topical and completely up-to-date.

Recognised as one of Europe’s leading trainers on the subject of letters of credit, Mark delivers approved courses on behalf of Chambers of Commerce and the Department for International Trade. His clients include internationally trading organisations from a range of sectors, eg, aerospace and defence, energy, automotive, engineering, healthcare and medical, logistics and financial services.

Mark is an extremely engaging and popular trainer, as the following sample feedback shows:

‘We all started with varying but minimal amounts of knowledge and left with much more confidence to negotiate Incoterms in our contracts. The team enjoyed the visual aids and exercises which really helped us to understand the subtle differences between each of the terms. Mark kept everyone engaged and kept at a pace which suited our learning.’

‘This has not only improved our turn around on completing orders more efficiently, it has also had a massive cost saving for the business. We feel we would not have had the confidence to make this transition if it were not for Mark’s excellent training. Mark has a very relaxed approach to training, yet covers all aspects in full and keeps it very interactive. We have since had Incoterms and Documentary Collections training, which again were very informative. The team are very grateful for the training and it has helped them to feel more confident in their day-to-day dealings with L/Cs and general export enquiries. Thank you Mark!’’

Incoterms® – course outline

1 Introduction

  • Welcome
  • Introductions
  • Objectives

2 Incoterms® – the context

  • The essential background
  • Functionality
  • What were the key developments in Incoterms® 2010?

3 Classifications and groups

  • Rules for any mode or modes of transport
  • Rules for sea and inland waterway transport

4 Incoterms® 2010 – the rules in detail

  • Division of costs, risks and obligations between seller and buyer
  • Case studies – seller and buyer perspectives
  • Examples and exercises

5 Commonly misused terms and how to avoid the consequences

  • Why EXW is inappropriate for international shipments
  • Is your company taking risks by using FOB, CFR and / or CIF?

6 Managing risk and insurance

  • Transfer of risk between seller and buyer
  • Illustration of appropriate cover for each Incoterms® rule
  • Examples and exercises

7 Putting Incoterms® 2010 into practice

  • Understanding cost obligations and pricing
  • Examples and exercises

8 Conclusion

  • Incoterms® quiz
  • The future – Incoterms® 2020
  • Review