INCOTERMS 2020 and Shipping Import & Export Documentation Procedures

The Incoterms® 2020 provides comprehensive working knowledge of ICC’s globally recognised commercial trade terms, which offer specific guidance for those participating in the import and export of global trade. The global economy has given business broader access than ever before to markets all over the world. Goods are sold in more countries, in larger quantities, and in greater variety. But as the volume and complexity of global sales increase, so do possibilities for misunderstandings and costly disputes when sale contracts are not adequately drafted. The Incoterms® 2020 rules take account of the increased attention to security in the movement of goods, the need for flexibility in insurance coverage depending on the nature of goods and transport, and the call by banks for an on-board bill of lading in certain financed sales under FCA rule. Incoterms® 2020 also offers a simpler and clearer presentation of all rules, featuring an expanded introduction and explanatory notes. Incoterms® 2020 is also the first version off ICC’s Incoterms® rules to include a ‘horizontal’ presentation, grouping all like articles together and allowing users to clearly see differences in treatment of particular issues across the 11 Incoterms® rules. Incoterms rules define the responsibilities of buyers and sellers for the delivery of goods under sale contracts. They are the authoritative rules for determining how costs and risks are allocated to the parties. Incoterms rules are regularly incorporated into sale contracts worldwide and have become part of the daily language of trade.

SESSION 1: WHAT ARE INCOTERMS AND ITS IMPORTANCE IN INTERNATIONAL TRADE SESSION 2: HOW BEST TO INCORPORATE THE INCOTERMS RULES SESSION 3: DELIVER, RISK AND COST IN THE INCOTERMS RULE 2020 SESSION 4: INCOTERMS RULES AND THE CARRIER SESSION 5: RULES FOR THE CONTRACT OF SALE AND THEIR RELATIONSHIP TO OTHER COUNTRIES SESSION 6: THE ELEVEN INCOTERMS 2020 RULES SESSION 7: DIFFERENCES BETWEEN INCOTERMS 2010 AND 2020 SESSION 8: VARIANTS OF INCOTERMS RULES, ARE THEY SAVE TO USE SESSION 9: RULES OF ANY MODE OR MODE OF TRANSPORT (7 TERMS) SESSION 10: RULES FOR SEA AND INLAND WATERWAY TRANSPORT (4 TERMS) SESSION 11: STEPS OF EXPORTING & IMPORTING (HOW AN LC IS CREATED) SESSION 12: DEFINITION IMPORT VALUE, DOCUMENTATION REQUIRED FOR IMPORT AND IMPORT ACTIVITIES FLOW IN PORT SESSION 13: DEFINITION OF EXPORT VALUE, DOCUMENTS REQUIRED FOR EXPORT AND EXPORT ACTIVITIES FLOW IN PORT SESSION 14: DOS AND DON’TS WITH ROYAL MALAYSIAN CUSTOMS SESSION 15: CLAIMS PROCEDURES SESSION 16: TIPS FOR IMPORTERS, EXPORTERS AND HOW TO AVOID SHIPPING ERRORS