BACKGROUND:

Incoterms (International Commercial Terms) are a set of international rules for the interpretation of trade terms set forth by the International Chamber of Commerce.

In international trade transactions one of the aspects to be defined is the place of delivery of goods. This place, previously agreed between the importer and the exporter, must be stated in the international sales contract. INCOTERMS 2010 facilitates this by clearly defining the place of delivery, who is responsible for the transport to the place of delivery, who assumes the risks and the point at which risk passes from the exporter to the importer, who customers clears the goods for import/export and many more important obligations.

Incoterms also establish a body of international rules for the interpretation of the most commonly used international trade terms.

COURSE OBJECTIVES :

To understand:

-The responsibilities of the exporter and Importer under Incoterms 2010.

-How Incoterms are used in international trade transactions.

COURSE OUTLINES:

• Define terms of sales 

• What incoterms are and are not 

• Express the important role of incoterms in international contracts of sale 

• Distinguish between the incoterms 

• Analyze the application of incoterms in international trade 

• Recognize the risks and responsibilities of each incoterms and compare with the others 

Teacher-Student ratio is 1:10

Entry requirements

Minimum Age : 16 years

Academic qualification : Basic Secondary education

Proficiency Level : English at Secondary level

Course Outcomes : Certificate

Duration : 1 Full Day (OR) 2 Half Day

Mode of delivery : Classroom-based teaching with use of projector