Incoterms form the basis of all export contracts and are core to the effectiveness of the contract, including payments. Incoterms are also customarily used to identify and define the point of revenue recognition.
The International Chamber Commerce mandated a review and update of the terms, a process on-going over three years. Incoterms 2020 will be published in September 2019 and will replace Incoterms 2010 on 1 January 2020.
We are fortunate to have secured as our trainer for this course, Jon Walden, a member of the ICC UK Incoterms 2020 review team who has been involved in the review process from the outset.
What will you gain?
During the course you will learn about the differences between Incoterms 2010 and Incoterms 2020, the rationale for the changes and how this will affect your business. You will be appraised of the details of all the terms and the critical points of each term. The training will guide you on any changes you may have to make to your contracting as a result of the review.
Who is it for?
The training is for all those involved in the export process, that is credit control, finance, shipping, contracting, documentation, order processing and sales. One of the key qualities of Incoterms is that it provides the linkages between all elements of the export process, for example credit control and shipping.
What will it cover?
The training will cover – changes in the terms, risk and cost implications, incorporation into the contract, responsibilities of the contracting parties, definition of the ‘delivery point’ and potential relationship with revenue recognition, frequently occurring errors and misconceptions in Incoterms use, implementing the new rules and dispute resolution. .
Duration: One day
Delivery: At your offices
Timing: At your convenience
Tailored: Programme delivery can be tailored to meet your particular requirements
Recommended next courses:
Letters of credit
Interested to find out more:
T: +44 (0)1780 722907