Incoterms® 2020 Rules Seminar
IMPORTANT: Due to COVID-19, all in-person seminars have been suspended until further notice. Please see our Webinars page for information on our online courses.
Half-Day Session — 8:30 a.m. to 12:00 p.m.
Certificate Issued Upon Completion.
If your company is relying on the trade term FOB for all your international shipments, you may be in for a few surprises. FOB has a much different meaning in international trade than it does for domestic orders. Understanding the common set of international trade terms—Incoterms® 2020 rules—will ensure that you are speaking the same language as your international customers and vendors and protect your company against unanticipated expenses and liability.
This half-day seminar evaluates each of the Incoterms® 2020 trade terms and the definitions and rules for each so you can decide which term or terms will work best for your company. 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® 2020 and more traditional domestic terms of sale.
If you take this seminar, you will learn:
- NEW Incoterms® 2020 trade terms
- 11 Incoterms® 2010 trade terms will still be reviewed
- Responsibilities & obligations for seller and buyer under each term
- Product transportation and risk of loss
- Terms for any mode
- Maritime terms
Come to this one-day seminar armed with your questions. Small class sizes and a knowledgeable teacher allow for a great interaction between attendees and the instructor. All attendees receive the reference book to serve as a day-to-day guide.
Can't travel. This seminar is also available in an online webinar format. Click here for more information.
Seminar refund policy. IBT will issue a complete refund if you cancel 30 or more days before the seminar date. No refunds are given for cancellations received within 30 days of the seminar. Cancellations received less than 30 days before the seminar are subject to a $125 transfer fee. Once the fee is paid, you may transfer to another class date within one full year. In fairness to all attendees, confirmed attendees who do not attend their scheduled seminar are liable for the entire fee. You may send a substitute if you are not able to attend at the last minute at no charge.
If you do not receive a seminar confirmation at least two weeks before the seminar, please contact our office. We recommend you do not make travel arrangements until you receive a seminar confirmation. We reserve the right to cancel any seminars that do not have enough participants. If a cancellation occurs, registered attendees will receive a full refund or the option to transfer to another date.
WHEN CHECKING OUT, PLEASE PROVIDE THE FOLLOWING INFORMATION ABOUT THE SEMINAR ATTENDEE IN THE "NOTE TO SELLER" BOX:
- Phone Number
- Email Address
- Company Name & Address
I. TRADE TERMS FOR DOMESTIC AND INTERNATIONAL TRANSACTIONS
A. Incoterms® Rules in Contracts
B. Incoterms® Rules and Title Transfer
C. Incoterms® Rules vs The Uniform Commercial Code Terms
D. Structure of Incoterms® Rules
II. INCOTERMS® 2020 PRODUCT TRANSPORTATION AND RISK OF LOSS
Incoterms® Rules Compared
A. TERMS FOR ANY MODE
1. Ex Works (named place) EXW
2. Free Carrier At (named place) FCA
3. Carriage Paid To (named place of destination) CPT
4. Carriage and Insurance Paid To (named place of destination) CIP
5. Delivered at Place (named place of destination) DAP
6. Delivered at Place Unloaded (named place of destination) DPU
7. Delivered Duty Paid (named place of destination) DDP
B. MARITIME TERMS
1. Free Alongside Ship (named ocean port of shipment) FAS
2. Free on Board (named ocean port of shipment) FOB
3. Cost and Freight (named ocean port of destination) CFR
4. Cost, Insurance & Freight (named ocean port of destination) CIF
Trade Term Self-Assessment, Exercises & Quiz
III. COSTING METHODS
IV. CASE STUDIES
V. MISTAKES MADE: COURT CASES INVOLVING INCOTERMS® RULES