INTRODUCTION FOR UNDERSTANDING INCOTERMS 2020 – RISK, BENEFITS, COSTS, CUSTOMS PROCESS AND NEGOTIATING FOR THE BEST INCOTERMS

Incoterms is the rule of delivery.

Failure to understand the various Incoterms rules created problem for buyer and seller in international or domestic trade.

Common problems faced by many buyers and sellers when conducting domestic or international trade for example;

• What will be my risk by using Incoterms that another party chose?
• Is there any benefit to use this particular Incoterms?
• What will be my obligation and the other party obligation?
• Is this Incoterms allowing me to have better opportunity and less risk as a seller?
• Buying with an Incoterms of my choice, how do I decide which one to select?
• Am I using the right rules with the Incoterms selected?
• What will happen if I use a particular Incoterms but not the rule assigned to it?
• How can I guarantee my payment will be paid without delay?
• How do I negotiate for the best Incoterms and avoid hidden cost?

These are some of the questions many will be asking.

By attending this program, you will be able to decide appropriately the safe mode of delivery and eliminate some of the misunderstandings between buyer and seller.

This program is to allow participants of the program to develop knowledge on the different types of Incoterms, understand the rules, benefits and risk

LEARNING OUTCOME OF UNDERSTANDING INCOTERMS 2020

By the end of the four sessions, participants will be 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
• Able to implement the knowledge gain to activate the right steps when dealing with such rules
• 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

For more information, please leave your enquiry!