Incoterms 2020
Course Information
1 Day Course
Time: 9am – 5pm
Fee: $650 (bef. GST)
Contact: bes@dnb.com.sg
Course Introduction
The Incoterms® 2020 is designed to provide working knowledge and interpretation of the newly revised trade terms which will be approved on 25 Sep 2019 and will come into effect on 01 Jan 2020. This course is aimed at building confidence in choosing the right Incoterm rule for the right transaction, in advising organizations when issues arise in the execution of transactions, and in interfacing with logistics, finance and insurance personnel in other companies that come into contact with the same transaction.
This course is suitable for exporters and importers in large corporates and small businesses, finance and procurement professionals, logistics service providers, freight forwarders, custom brokers, compliance and risk managers, front-office relationship managers, back-office trade finance and trade operations teams, business development, sales/purchasing, marketing managers, transportation carriers, insurance managers, trade consultants, commercial lawyers/arbitrators and trade associations.
Who Should Attend
To All Exporters, Importers, Freight Forwarders, Banks, Lawyers, Insurance Specialists and all those involved in International Trade or Purchasing.
Course Outlines
- Topic 1. Overview of Incoterms® 2020 Rules
What are Incoterms: what is it, what does it clarify, how widely is it used and how may we apply the Incoterms?
- Topic 2. Incoterms® 2020 – some common misconceptions
- Topic 3. Definitions of Incoterms® 2020
- Topic 4. Terms of Sale vs. Terms of Payment
- Topic 5. Comparative Matrix of Incoterms® 2020 and Incoterms® 2010
What important matters are covered by the new Incoterms 2020 and what are the main changes to Incoterms 2010?
- Topic 6. The new classification under the new Incoterms® 2020
Obligations under Incoterms® 2020
- Topic 7. Different Modes of transport and appropriate terms
- Topic 8. The impact of Incoterms rules on shipping and transport documents
- Topic 9. The use of Incoterms® 2020 rules in domestic trade
- Topic 10. How will Incoterms® 2020 affect the relationship and specific responsibilities between sellers and buyers?
- Topic 11. What are the critical points under Incoterms® 2020 for the transfer of risks and costs?
- Topic 12. A detailed diagrammatic analysis of the 11 Incoterms
- Topic 13. Relationship of Cargo Insurance with Incoterms
- Topic 14. Following up on problem accounts - drawing up an action plan
Trainer Profile
- Mr. Victor Tan
Victor has been in the Banking Industry for the last 15 years covering the operational areas of International Trade Finance including Remittances, Imports, Exports and Guarantee departments. He has worked with various International Banks since 1977, starting with Standard Chartered Bank, Amsterdam-Rotterdam Bank, Bangkok Bank, Royal Trust Merchant Bank and lastly Barclays Bank, where he was the Deputy Head, Trade Finance, on leaving the banking industry in 1992.
He is now an Independent Training Consultant and conducts Company In-house training for corporate clients as well as Public Seminars both locally and overseas regularly. He is a Life Associate Member of The Chartered Institute of Bankers, London and he holds a Master of Business Administration Degree from University of Strathclyde (UK).