About this Module
What you will learn
Incoterms ®, also known as International Commercial Terms, serve as the universal language of global commerce. The International Chamber of Commerce (ICC) has established standard words that are widely included in contracts for the global trade of products. They assist buyers and sellers in preventing expensive misunderstandings by clearly defining the parties responsible for the obligations, expenses, and dangers associated with the transportation of products from sellers to purchasers. Incoterms® offer clear and predictable guidelines for businesses worldwide. The Incoterms® were last revised in 2019, making Incoterms® 2020 the latest edition of the terms. Nevertheless, several purchasers and vendors continue to favor the utilization of Incoterms® 2 010. There are a total of 11 sets of Incoterms®, with 7 sets that can be used for all modes of transport, and the remaining 4 sets specifically designed for sea and inland waterway transit.
What skills you will gain
Learning on Incoterms® can benefit your career in multiple ways. Let’s look at some below: - Shipping and freight costs: Incoterms dictate which party will be responsible for the costs of shipping and freight. - Point of Delivery: Incoterms indicate the point at which the responsibilities are transferred from the seller to the buyer (the delivery point). - Import and export regulations: Incoterms dictate which party organizes the procedures used in importation and exportation. - Insurance cover: Incoterms outlines who is responsible for the costs of insurance.
Total contents and assessments
# 2 learning activities # 2 assessment # 2 interactive teaching video
Module Details
CLUSTER : Science & Technology ( ST ) MODE/DURATION : Flexible LENGTH : 30 days EFFORT : 1 LEVEL : Intermediate LANGUAGE : English CERTIFICATE : Not applicable CPD POINT : 0 PRICE : Free Associated Course (s) : No Course
