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Introduction to the Incoterms® 2020 Course

Introducing our online training course for Incoterms® 2020 Rules

• Comprehensive training from our global partner, endorsed by Trade Finance Global
• Free one year supply of Trade Finance Talks Magazine
• Included: TFG’s comprehensive 94 page guide on Incoterms® 2020, to be used in conjunction with ICC’s new book, INCOTERMS® 2020

This comprehensive incoterms course is intended to build confidence in choosing the right Incoterm rule for the right transaction, in advising colleagues within their organization 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 available in English, and is scheduled for release in mid-2020.

Who is the shipping rules course for?

This course is aimed at practitioners in trade – bank operations managers, legal and compliance specialists, corporates and supply chain managers.

Corporates and Supply Chain Teams

International businesses that don’t clearly understand the term they need to use, risk entering contracts without knowing how the goods will be transferred. This course will allow them to identify how to best incorporate the Incoterms® Rules 2020 into a sales contract. 

By completing this course, students will become able to recognize the differences between the obligations of the Buyer and Seller in terms of costs and risks. They will also learn to distinguish what the Incoterms® Rules 2020 do and do not cover, including the changes in this version, and what is required for each term.

Trade and Logistics Sector

This course is great for trade and logistics specialists to help limit misused Incoterms®, which can create big issues in your supply chain; payment of goods, delivery schedules, increased costs, poor inventory control, and negative customer interactions.

Students will discover the structure of the new Incoterms® Rules 2020 according to the 10 key obligations and be able to classify how each Incoterms® 2020 Rule and their different families deal with different aspects of a trade transaction. In addition, you will learn to simplify international transactions where laws around insurance, payments and responsibility for goods vary hugely from country to country

Legal Practitioners, Regulators, Compliance Officers

Learn to simplify international transactions where laws around insurance, payments and responsibility for goods vary hugely from country to country. Some countries do not have regulations saying which terms must be used meaning you could miss out on business opportunities when a party offers less favourable terms.

Using Incoterms® 2020 in international trade will also help to reduce the incidences of bribery and unfair business practices. 

What are Incoterms® 2020 Rules?

Incoterms® are the authoritative rules which clearly define the responsibilities between buyers and sellers of goods and services, ensuring the delivery of sales contracts. They’re globally recognized, enable clarity in contracts, and could avoid costly trade disputes, claims and litigation.

Incoterms® Rules 2020 is the latest update to the Incoterms® rules and will be coming into effect at midnight on the first of January, 2020. Incoterms® were first developed in 1936 by the International Chamber of Commerce (ICC) in an attempt to simplify communicational shortfalls involved with international trade.  

Simply put, Incoterms® are hugely important for anyone selling or moving goods abroad. So whether you’re an importer or exporter, freight forwarding company or trade financier, credit insurer or law firm, it’s likely that you use Incoterms® to govern trade.

Benefits of studying an Incoterms® Rules Course

Overview of the course

• Introduction to Incoterms® 2020 Rules
• 2010 versus 2020 – What has changed?
• Multi-modal Incoterms®
  • EXW Ex Works
  • FCA Free Carrier
  • CPT Carriage Paid To
  • CIP Carriage And Insurance Paid To
  • DAT Delivered At Terminal
  • DAP Delivered At Place
  • DDP Delivered Duty Paid
• Sea and Inland Waterway Transport
  • FAS Free Alongside Ship
  • FOB Free On Board
  • CFR Cost and Freight
  • CIF Cost, Insurance and Freight
• Most Common Mistakes and how to avoid them

Further Details

There are no specific prerequisites for this course, however, students need to be able to read or write in English.

Fees are to be confirmed upon launch of this course.

By registering for this course through the TFG partnership program you will also receive:

• A free subscription to TFG’s Trade Finance Talks magazine,
• A free subscription to TFG’s podcast series, and  
• A free subscription to TFG’s e-newsletter

TFG produces a wealth of educational videos and guides for businesses on topics around trade, and shares industry knowledge through its role as a strategic media partner for trade conference providers around the world.

Attracting around 100k monthly readers, our online publications (the Trade Portal) have a global audience in 185 countries. Our newly launched specialist content hubs provide guides, thought leadership articles and features on almost every aspect of trade. Gaining access to this wealth of information will be the perfect supplement to your supply chain finance certification and will enable you to continue learning and increasing your expertise.