Learn Incoterms® 2020



The Essential Incoterms Course for Logistics, Finance, Tax, Customer Service, Sales and Business Development

What you will learn

Learn what the Incoterms ® 2020 are and what they are used for.

Learn how different teams in a company directly and indirectly interact with Incoterms ® 2020

Understand why Incoterms is important for Tax & Finance

Learn how to choose the right Incoterm for your business needs

Important of aligning Incoterms on Customs documentation

Understand the challenges with cost allocation in Incoterms and how to overcome them

Understand how to start a discussion about Incoterms with suppliers and customers

Explore case studies that illustrate the importance of applying Incoterms correctly

Description

This course will introduce the Incoterms® 2020 and take you on a learning journey that goes well beyond the fundamentals. In addition to the basics of the Incoterms, we will explore how the terms should be correctly applied and why they can affect almost the entire organization and not just a handful of teams or individuals.

We will learn through crisp and concise lectures that include useful anecdotes, mini-quizzes and short case studies.

After you complete this course, you will be able to engage with various stakeholders both within the organization and outside the organization on topics such as:

  • How the Incoterms should be used
  • What the Incoterms do
  • What the Incoterms do NOT do
  • Roles, responsibilities, and liabilities between buyers & sellers
  • Allocation of costs between buyers & sellers
  • Transfer of risk for any shipment from the buyer to seller
  • Customs value and its relevance to the Incoterms
  • The suitability of specific Incoterms for specific modes of transport
  • Many other concepts that make your understanding of the Incoterms holistic

The course is designed to give you the edge you need to apply the Incoterms in real life!



Topics will be broken up into bite-sized chunks that have been made easy to understand. You are free to complete the course at whatever pace is comfortable for you.

With the understanding that you will gain in this course, you will be able to confidently navigate the various sources of information online and answers to any specific question you may have about Incoterms in the future.

The course is delivered primarily through presentation decks with abundant diagrams used to visually represent ideas and concepts, in order to keep things interesting for the learner.

English
language

Content

Welcome & Course Introduction to Learn Incoterms 2020

Welcome to Learning Incoterms 2020
Why this course?
What will you achieve from this course?
Disclaimer
Useful Resources

The Basics of Incoterms

What are Incoterms?
Group the Incoterms according to modes of transport
Group the Incoterms according to point of delivery
What do Incoterms do?
What are the 10 articles?
Example of how to apply the articles to an actual shipment on CIP terms
Delivery vs. Destination
Delivery
Commonalities between the articles
What don’t the Incoterms do?
Can the Incoterms be modified?
Knowledge Check
Best Practice: How to express an Incoterm?
Knowledge Check

The 11 Incoterms

Key Highlights, Diagrams & Summaries
Key Highlights: EX Works (EXW)
Ex Works (EXW) Diagram Discussion
Ex Works (EXW) Summary
Knowledge Check
Key Highlights: Free Carrier (FCA)
Free Carrier (FCA) Diagram Discussion
Free Carrier (FCA) Summary
Knowledge Check
Key Highlights: Carriage Paid To (CPT)
Carriage Paid To (CPT) Diagram Discussion
Carriage Paid To (CPT) Summary
Key Highlights: Carriage and Insurance Paid To (CIP)
Carriage and Insurance Paid To (CIP) Diagram Discussion
Carriage and Insurance Paid To (CIP) Summary
Knowledge Check
Key Highlights: Delivered At Place (DAP)
Delivered At Place (DAP) Diagram Discussion
Delivered At Place (DAP) Summary
Key Highlights: Delivered At Place Unloaded (DPU)
Delivered At Place Unloaded Diagram (DPU) Discussion
Delivered At Place Unloaded (DPU) Summary
Knowledge Check
Key Highlights: Delivered Duty Paid (DDP)
Delivered Duty Paid (DDP) Diagram Discussion
Delivered Duty Paid (DDP) Summary
Knowledge Check
Key Highlights: Free Alongside Ship (FAS)
Free Alongside Ship (FAS) Diagram Discussion
Free Alongside Ship (FAS) Summary
Knowledge Check
Key Highlights: Free On Board (FOB)
Free On Board (FOB) Diagram Discussion
Free On Board (FOB) Summary
Key Highlights: Cost Insurance Freight (CIF)
Cost Insurance Freight (CIF) Diagram Discussion
Cost Insurance Freight (CIF) Summary
Knowledge Check
Key Highlights: Cost and Freight (CFR)
Cost and Freight (CFR) Diagram Discussion
Cost and Freight (CFR) Summary

Case Studies

Let’s look at case studies
Case Study 1: Freight Collect
Case Study 2: Export Arrangements
Case Study 3: Revenue Recognition
Case Study 4: Damaged Cargo
Case Study 5: Providing a Certificate of Origin document
Case Study 6: The Basis of Valuation
Case Study 7: Different Modes of Transport
Case Study 8: Containerized Cargo
Case Study 9: Insurance Matters
Case Study 10: Unloading Obligations

Closing Notes & Conclusion

Discussion Checklist
Conclusion
Thank you!

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