Incoterms 2020 Training: Marine Insurance and International Purchase Orders Training

Inco Terms 2020 Workshop

The new Incoterms 2020 come into effect on the first of January 2020 and companies who are involved in importing and exporting will be required to implement the new terms.

Course Objectives:

To assist organisation to understand the important fundamentals of the Incoterms rules:

  • The basic roles and responsibilities of the seller and buyer
  • Cost of transport between buyer and seller
  • Understanding of who takes responsibility for and loss or damage of goods whilst in transit between buyer and seller?
  • The rules and contracts surrounding a typical contract of sale for export/import transactions
  • What is covered and what is not covered under transit insurance
  • How the Incoterms 2020 affect import and export transactions costs
  • The legal aspects to be considered when entering into import and export transactions.

Basic Course Outline:

  • Introduction of Incoterms
    • What the terms do
    • What the terms do not do
    • How to incorporate the rules:
      • Proforma invoices
      • International purchase orders
    • Risk and costs
    • 2020 rules and the carrier
    • Contract of sale rules vs other contracts
    • Rules for any mode of transport
    • Order within the rules
  • Changes between Incoterm’s 2010 and 2020
  • Incoterms
    • EXW (Ex Works)
      • Explanation
      • Sellers obligations
      • Buyers obligation
    • FCA (Free Carrier)
      • Explanation
      • Sellers obligations
      • Buyers obligation
    • CPT (Carriage Paid to)
      • Explanation
      • Sellers obligations
      • Buyers obligation
    • CIP (Carriage and Insurance Paid to)
      • Explanation
      • Sellers obligations
      • Buyers obligation
    • DAP (Delivery at Place)
      • Explanation
      • Sellers obligations
      • Buyers obligation
    • DPU (Delivery at Place Unloaded)
      • Explanation
      • Sellers obligations
      • Buyers obligation
    • DDP (Delivery Duty Paid)
      • Explanation
      • Sellers obligations
      • Buyers obligation
    • FAS (Free Alongside Ship)
      • Explanation
      • Sellers obligations
      • Buyers obligation
    • FOB (Free On Board)
      • Explanation
      • Sellers obligations
      • Buyers obligation
    • CFR (Cost and Freight)
      • Explanation
      • Sellers obligations
      • Buyers obligation
    • CIF (Cost Insurance and Freight)
      • Explanation
      • Sellers obligations
      • Buyers obligation
    • General obligations
    • Delivery and taking delivery
    • Transfer of risks
    • Carriage
    • Insurance
    • Delivery transport document
    • Export/Import clearance
    • Checking/Packing/Marking
    • Allocation of cost
    • Notice
    • Export quotes
      • Importance of proforma invoice
      • Legal issues to be considered
    • Import quotes
      • International purchase order
      • Legal issues to be considered
    • Transit Insurance
      • A, B, C insurance
      • What is covered
      • Additional cover that could be required

Course Duration:
2 Days
Public Course:
Date: 30 & 31 January 2020
Location: Johannesburg

Who should attend:

  • Purchasing staff involved in Imports
  • Sales staff dealing with export transactions
  • Import export administration staff
  • Finance managers

Contact us for more Information or to Book Training

Public Course: 30 & 31 January 2020
In-house Course: Contact us. Fully Customisable
email: tarryn@indawo.africa