EIEIOTECHNOVATION
← Training programmes

EIEIO / AUTOMATION & EMERGING TECHNOLOGY

Mastering Incoterms 2020 (ICC) In Import Export Management

Course outline

2 days
Discuss this programme →

Duration

2 days

OVERVIEW

The International Commercial Terms (ICC 2020) rulings are to be used in the contract of sale of goods effective in the year 2020. Highlights being the change of name in DAT to DPU (Deliver to place unloaded). Additional important obligations in FCA, CIP, CIF, DAP, DDP and resolutions on cyber security-related matters and insurance.

The contemporary business landscape changes has created a proliferation of additional trading risks and costs across the borderless territories. In these crucial risk gaps, proper understanding and application of Incoterms would contribute to a viable contingency plan in and out of the distribution chain. A stronger defensive resolution is in place against all contractual disputes and costly mistakes.

COURSE LEARNING OUTCOMES

  • Recognise the provisions and resolutions of Incoterms 2020.
  • Classify the contractual and operational constraints of Incoterms.
  • Perform and manage the risks and costs in the Incoterms distribution chain.
  • Know and familiarize the conflicting factors between shipping and Incoterms.
  • Identify and empower Incoterms with Logistics and Negotiation competencies.

WHO SHOULD ATTEND

A mandatory and competency course for Managers, Executives in the department of Finance, Costing, Planning, Logistics, Shipping, Procurement, Business Development, Customer Service.

METHODOLOGY

  • Interactive Lectures
  • Case studies
  • Group assignment
  • Group interactive activities

Day 1

9.00amOVERVIEW OF INCOTERMS IMPLIED UNDERTAKINGS AND DISPUTE FACTORS

  • The 4D’s of Define, Design, Detect, Defend in planning stage
  • The 4C’s of Carriage, Customs, Contracts, Control in the chain
  • The 4T’s transaction terms of Payment, Sales, Delivery, Title

UNDERSTANDING THE CONTRACTUAL AND VOLATILE SCOPE OF INCOTERMS

  • The responsibilities and obligations of the seller and buyer
  • The division and diversion of the costs and risks factors
  • The closure of the supply and delivery contractual gaps

10.45 FAMILIARIZING THE MAJOR TERMINOLOGIES OF INCOTERMS AND SHIPPING

  • Carrier and Shipper in the contractual implication
  • Delivery and Obligation of seller and buyer context
  • Packaging and Packing requirement in shipping

1.00 Lunch

2.00 CATEGORIZING THE MAIN GROUPING OF THE 11 INCOTERMS USAGE

  • By sea and water-way transport versus other transport modes
  • By other obligatory modes with cargo unloaded at destination
  • By other delivery options at arrival with customs clearance

POSITIONING THE AGGREGATE TERMS INTO AIR, SEA, GROUND EXECUTION

  • The terms and ruling of CIF, CFR, CIP, CPT
  • The terms and ruling of EXW, FOB, FCA, FAS
  • The terms and ruling of DPU, DAP, DDP

3.45 PLOTTING THE COSTS AND RISKS LINES BETWEEN SELLER AND BUYER

  • The positioning of the port, point, place and premise
  • The allocation of the first carrier and forwarders nomination
  • The interpretation of port to port and door to door delivery

5.00 End of Day 1

Day 2

9.00 THE RULINGS APPLIED TO THE STRING SALES TRANSACTION

  • Understanding the security threats and mitigation
  • Understanding the preservation of cargo inherent nature
  • Understanding the fulfillment of ownership transfer

THE RULINGS OF CONTROL AND COMPLIANCE FACTORS PROVISIONS

  • The contract of sales and contract of carriage
  • The transfer of risks and allocation of costs required
  • The tendering and terminating of delivery obligations

10.45 NEGOTIATION COMPETENCY BETWEEN PRINCIPALS AND RELATED PARTIES

  • Preparation stages of negotiation between seller and buyer
  • Documentation requirement for transactional fulfilment
  • Finalization of agreed contracted terms and conditions

1.00 Lunch

2.00 LOGISTICS EFFICIENCY AND EFFECTIVENESS IN THE EXECUTION CHAIN

  • Logistics planning criteria at pre-departure stage
  • Logistics monitoring method at in-conveyance stage
  • Logistics reporting style at post-arrival stage

3.45 INCOTERMS 2020 RULINGS AND RESOLUTIONS

  • Demarcation and substitution of the Sale Contract
  • Renaming DAT to DPU (delivered at place unloaded)
  • Application of the shipping terms On Board in FCA
  • Application of the shipping VGM under the SOLAS
  • Listing of all costs related to sale of goods sold
  • Specification of the ICC marine cargo clause in CIF,CIP
  • Provision of information in cyber security- related areas
  • Arrangement of own transport in FCA,DPU,DAP,DDP
  • Precaution guidelines on Incoterms Do’s and Don’t’s

5.00 End of Course

Programme scope, delivery arrangements and suitability are confirmed during enquiry.