On 26 September 2010, the eighth update of the International Trading Terms (Incoterms) was published which went into effect on 1 January 2011.

Incoterms 2010 defines 11 rules, reducing the 13 used in Incoterms 2000 by introducing two new rules - Delivered at Terminal (DAT) and Delivered at Place (DAP) - that replace four rules of the prior version -  Delivered at Frontier (DAF), Delivered Ex Ship (DES), Delivered Ex Quay (DEQ) and Delivered Duty Unpaid (DDU).  

In the prior version, the rules were divided into four categories but Incoterms 2010 are subdivided into two categories based only on the method of delivery.

This two-day seminar will refresh your  understanding of Incoterms; it’s accepted definitions and rules of interpretation; proper usage; the dangers to avoid in usage; the costs, rights and responsibilities associated with the terms; and when risks are transferred from the seller to the buyer. 

      
Target Audience

• Commercial Managers
• International Contracts Administrators
• Trade Financiers
• Commodity Traders
• Materials Management Department Heads
• Specialists in Shipping, Transport, Logistics and Freight Forwarding
• Import/Export Documentation Administrators

Key Takeaways

• Learn the terminology of the 11 Incoterms 2010 rules (effective 1 January 2011)
• Learn about the major changes from the previous 13 Incoterms 2000 rules
• Learn the proper use of each of the Incoterms 2010 rules
• Understand the costs, responsibilities and rights of each party under each term
• How to apply the right Incoterm under different modes of transport
• Know the implications of using Incoterms variants
• Review/analyse legal precedents and recent cases