“The New Incoterms® 2020 – Selecting the Right Terms for Your International Transactions”
Please join the Export Compliance Training Institute (ECTI) on January 29th at 1pm EST, for the online webinar, “The New Incoterms® 2020 – Selecting the Right Terms for Your International Transactions.” The new Incoterms® 2020 were published in September 2019 by the International Chamber of Commerce and officially took effect on January 1, 2020. When used correctly, the rules greatly reduce misunderstandings amongst buyers and sellers in international transactions, as well as reduce the risk of contract disputes and litigation. It is critical for companies to choose the right terms of sale for their transactions; however, as is often the case, many companies choose unwisely, which can lead to significant delivery delays and increased costs.
• What are Incoterms®?
• How the new Incoterms® 2020 terms deviate from Incoterms® 2010
• Overview of the maritime terms in Incoterms® 2020
• Overview of the Incoterms® 2020 terms that can be used in any mode of transportation
• Transfer of title and risk of loss under Incoterms® 2020
• The levels of insurance coverage under Incoterms® 2020
• Security-related requirements
• The role of Incoterms® in determining the customs value of goods imported into the U.S.
• The risks and benefits of each term
• When does insurance transfer?
• When does risk transfer?
• Proper description of sales terms in contracts for the sale of goods
The webinar will provide PowerPoint slides and include live video and commentary. Webinar participants are invited to submit questions during each webinar. The final 30 minutes of each webinar will be allotted to answering attendees’ questions.