INCOTERMS - International Commercial Terms
Duration: 60 Minutes
This 60-minute webinar will help exporters understand International Commercial Terms, or INCOTERMs, published by the International Chamber of Commerce and how to select the correct one for their transactions.
Objectives of the Presentation
Why Should you Attend
- What are INCOTERMs
- How are they used for the export sales
- How are they used for import purchases
- What are the terms and conditions of each INCOTERM
- How do I select the correct term for a specific transaction
- What are the benefits of one term over another
- What are the risks of one term over another
Companies that export and import products internationally need to understand which International Commercial Term or INCOTERM, to use to precisely determine who pays for freight, insurance and customs duties. Without the INCOTERM being agreed to by the importer and exporter, the allocation of costs to either party cannot be determined. INCOTERMs also determine at which point in the logistics movement of goods title transfer takes place during transit. If the goods are lost or damaged, the INCOTERM determines who is entitled to the insurance payment.
In this webinar, attendees will learn how to use INCOTERMs to define who pays for freight, insurance and customs duties for the export sale and the import purchase of goods.
Who will Benefit
This webinar will provide valuable assistance to all companies that export or import goods and need to properly allocate the cost of freight, insurance and customs duties between the parties in the transaction.
- Export trading companies that sell internationally
- Import companies that purchase internationally
- Freight forwarding companies that are contracted to transport goods
- Bank staff involved with trade finance services and the negotiation of credits