Course Overview
In order to handle proper sales and purchase contract, we must understand the rule and law of delivery.
By attending this program, you will able to choose the right Incoterms for international and domestic delivery and also be aware of the law that oversees the domestic sales and delivery condition.
Course Objectives
By the end of the four sessions, participants will able to:-
- Understand the purpose of Incoterms in trade
- Acquired the understanding of the rules of Incoterms
- Understand the benefit and risk associated with the Incoterms learned
- Develop ability to choose the proper Incoterms for delivery
- Understand the risk mitigation process in selling or buying
- Understand basic Letter of Credit and Documentary Collection payment method
- Understand the risk and benefit of Letter of Credit and Documentary collection
- Understand Customs Rule for import, export and transshipment
Mode Of Learning & Duration
Mode of learning is through presentation by the trainer with notes to be provided before the training proper. Brainstorming session and a short case study will be introduced and 20 questions test to be answered after the training and submitted during training.
Who Should Attend
Key participants which are encourage to attend this program will be those involved in procurement or purchasing, logistics, shipping, sales, warehousing and finance.
Course Content
Module 1 : Incoterms Basic Principles and Cargo Insurance (2 hour)
- Evolution of Incoterms
- Cargo title – rights of seller and buyers
- Principle and Purpose of Incoterms
- Benefit of Incoterms
- Incoterms for multi modal transport
- Incoterms for Sea and waterway
- Buyer and Seller Responsibilities
- Costs to consider when choosing Incoterms
- Limitation of Incoterms
- Packaging rule
- Cargo Insurance
Module 2 : Understanding EXW, FCA, FOB and FAS Incoterms (2 hours)
- Benefit and Risk with these Incoterms
- Rule of EXW
- Rule of FCA
- Rule of FOB
- Rule of FAS
- Key differences of the Incoterms
- Case study
Module 3 : Understanding CIF, CFR, CIP and CPT (2 hours)
- Benefit and Risk with these Incoterms
- Rule of CIF and CFR
- Rule of CIP and CPT
- Key differences of the Incoterms
- Case study
Module 4 : Understanding DAP, DPU and DDP (2 hours)
- Benefit and Risk with these Incoterms
- Rule of DAP
- Rule of new Incoterms DPU
- Rule of DDP
- Key differences of the Incoterms
- Case study
Module 5 : Sales of Goods Act for Malaysia and Sabah and Sarawak (2 hour)
- Key element of Sales of Good Act 1957
- Key element of Sales of Goods Act 1979 (Sabah and Sarawak)
- Key differences between SOGA 1957 versus SOGA 1979
- Difference between Incoterms versus SOGA
Module 6 : Understanding Shipping documentation (2 hours)
- Customs form used in Malaysia
- Customs law and rules on import, export and transshipment
- Bills of Lading
- Free Trade Agreement
- Certificate of Origin
- Quiz
