If you take this seminar, you will learn how to:

• The differences between the domestic and international terms of sales.
• The meaning of each of the 13 different Incoterms.
• The responsibilities and obligations for the seller and the buyer under each of the terms.
• The costs associated with each term.
• When to use the different terms.

Incoterms (International Commercial Terms) are the "Terms of Sale" most commonly used in international transactions. These are the terms that define which responsibilities, risks and costs for the delivery of goods rest with the seller and with the buyer. Companies that don't fully understand their obligations under each of the different Incoterms run the risk of incurring expenses they were never expecting.

This half-day seminar defines each of the 13 different Incoterms, the advantages of each, and when they can and cannot be used. The instructor will use case studies and exercises to help define the most appropriate terms to use and provide an overview of the differences between Incoterms and more traditional domestic terms of sale. All attendees receive an Incoterms book to serve as a day-to-day reference guide.

SEMINAR AGENDA

I. PURPOSE AND SCOPE OF INCOTERMS

• Terms of Sale vs. Terms of Payment
• Difference between Terms of Sale for domestic shipments vs. international trade
• Terminology of International Trade

II. STRUCTURE OF INCOTERMS

• Definition of the 13 Incoterms
• Review of the four groups of terms
• Transfer of Risk from the Seller to the Buyer
• Responsibilities and Obligations for the Seller and Buyer
• Responsibility for Insurance
• Costs Associated with Each Term

III. OBLIGATIONS AND PROOF OF COMPLETION

• Analysis of the 10 obligations for each term of sale
• Documentation that is appropriate for proof of completion

IV. CASE STUDIES

• Discussion of most appropriate Incoterm with various case studies
• Exercises with Incoterms

V. INFORMATION RESOURCES

• Publications
• Phone Numbers
• Web Sites