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Home/Crash Courses/Crash Course in INCO TERMS

Crash Course in INCO TERMS

Crash Course in INCO TERMS

Course Description

in exclusive collaboration with the International Ship Suppliers & Services Association (ISSA)

Incoterms is an abbreviation of the phrase “International Commercial Terms'. It is a term trademarked by the International Chamber of Commerce, and refer to the terms of sale in a contract. An Incoterm describes and defines a transaction between two parties, usually the party exporting goods and the party importing them.

When an INCO term is used the parties automatically agree on who is responsible on various costs, tasks, processes such as delivery, transportation, documentations and formalities, as well as insurance. They cover all the ways in which the different parties share obligations and responsibilities.

Participants will gain insights into the latest Incoterms 2020 rules and prior versions rules, learn how to select the most suitable terms for their transactions, and acquire practical knowledge for successful implementation.

The seminar has been meticulously crafted by our dedicated WMA Education Team, working collaboratively to bring you a comprehensive and cohesive learning experience. To ensure consistency and a unified approach, we have opted for a singular voice throughout the seminar. The voice of the WMA Education Team will be guiding you through the seminar with the assistance of advanced voice synthesis technology. This cutting-edge approach allows us to provide you with a seamlessly delivered and clear presentation.

Learning Outcomes

By the end of the seminar, participants will be able to:
  • Understand Incoterms 2020and prior versions:
    • Grasp the fundamental concepts and evolution of Incoterms.
    • Explore the specifics of each Incoterm and their implications in global trade.
  • Navigate Incoterms with Confidence:
    • Develop the ability to choose the most appropriate Incoterm based on specific trade scenarios.
    • Gain practical insights into the roles and responsibilities of buyers and sellers at each stage of the transaction.
  • Apply Incoterms in Real-world Scenarios:
    • Analyze case studies and real-world examples to enhance decision-making skills.
    • Engage in interactive group exercises to apply Incoterms to common international trade challenges.
  • Mitigate Risks and Ensure Compliance:
    • Understand the importance of accurate documentation and compliance in international trade.
    • Learn strategies for negotiating favorable terms and mitigating risks associated with different Incoterms.
  • Enhance Contract Negotiation Skills:
    • Acquire tips and strategies for negotiating Incoterms in contracts.
    • Develop a practical understanding of how Incoterms can be used to achieve favorable outcomes in negotiations

Modules & Material

The course consists of four sessions.
  • Session 1: INCOterms Fundamentals
  • Session 2: 2000, 2010 and 2020 Rules
  • Session 3: EXW, FCA, FAS, FOB, CPT  - 2020 Rules
  • Session 4: CIP, CFR, CIF, DPU, DAP, DPP  - 2020 Rules

Course Instructors

    WMA Education Team
    education@seaworks.uk.com

    Duration & Certification

    Note:

    • There are no fixed course start dates. You can start your course ANYTIME, from ANYWHERE adapting the duration of the course to your needs.
    • Attendance: 3 notional hours ( prerecorded videos approximately 2 1/2 hours, in total).
    • There is a time limit of access to the course of 3 months in order to fulfill this course starting from the time of your registration.
    • The WMA-ISSA must be in receipt of full payment before access to the course is granted. Each participant is provided with the maximum number of days per course days access to the course. If you fail to complete the course during that time, then you must register again and repay for the course to be granted with access.
    • No course material may be copied or reused without the permission of the World Maritime Academy. You must not allow any third party to use your account information and/or computing equipment to access the digital content or course that you have booked. You may only use course materials for your own personal use. You must not provide, offer to sell, license or transfer the course materials (whether in whole or in part in any manner or form or in or on any media) to any other person unless we have agreed to this in writing.
    Upon successful completion certification of attendance is provided by the World Maritime Academy and the International Ship Supplier's & Services Association (ISSA).

    Entry Requirements

    The intensive seminar is open to those willing to acquire knowledge on the specialized shipping topic, irrespective of educational background or experience.

    ISSA members EXCLUSIVE FEE

    Are you an ISSA member?

    Get in touch with us (support@e-wma.com) to secure an exclusive 20% discount on the fee.

    Before registration simply share your ISSA company number or your membership number with us at (support@e-wma.com)

    The above discount is exclusively applicable to the ISSA Education Program.

    $250.00

    100% Online!

    Duration: 3 hours
    Number of modules: 4 Sessions, broken down to short Presentations
    Fees: $250
    Language: English
    Course Tools: Self-paced course; Pre-recorded Seminar, 146 Check your Knowledge Quiz Questions, Extra Resources, Course Instructor, Course Forum, Certification, Course Administrator.

    Are you an ISSA member?

    Contact us at support@e-wma.com to claim your exclusive 20% discount. Prior to registration, please provide us with your ISSA company number or membership number.

    The above discount is exclusively applicable to the ISSA Education Program.

    WMA /ISSA courses

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