BEGIN:VCALENDAR VERSION:2.0 PRODID:-//wp-events-plugin.com//7.2.3.1//EN BEGIN:VEVENT UID:342@x8ti.com DTSTART;TZID=Asia/Kuala_Lumpur:20261005T090000 DTEND;TZID=Asia/Kuala_Lumpur:20261009T130000 DTSTAMP:20260227T115406Z URL:https://x8ti.com/event/incoterms-2020-4/ SUMMARY:Incoterms 2020 DESCRIPTION:Course Overview\nWhat does ‘Incoterms’ mean?\n ‘Incoterm s’ is used to refer to International Commercial Terms for sale/trade wor ldwide\, created by the International Chamber of Commerce and revised at i ntervals. Incoterms 2020 is the most recent revision.\n\nThese rules are a set of standard terms and conditions designed to help traders when goods are sold and transported. Each rule specifies the obligation of each party and the point at which risk transfers from the seller to the buyer.\n\nIn coterms\, if incorporated into sales contracts\, acts as a mediator to sha re responsibility and risks between the seller and buyer\, thus reducing c hances of a dispute. Inclusion of Incoterms eliminates uncertainties of di fferent interpretations of trade terms in different countries.\n\nThe scop e of Incoterms is restricted to matters related to the rights and obligati ons of parties involved in a sales contract with respect to the delivery o f goods. Thus\, Incoterms is a very important initiative for supporting an d facilitating foreign trade.\n\nThis training course will empower you wit h a detailed understanding of Incoterms 2020 rules and their applicability worldwide. Since these rules are globally recognised and followed\, knowl edge and understanding of these will build your capabilities and enhance y our skill set to assume responsibilities involving international trade and commerce.\n\nThis course will provide you with the knowledge critical for any individual involved at some stage of the import/export process so as to successfully and seamlessly conduct trade and commerce\, in turn contri buting to the organization- and nation-wide growth and development.\nCours e Objectives\nThe main objective of this training is to empower profession als with—\n\n detailed information and knowledge of Incoterms\, specifi cally Incoterms 2020\n the required skills and capabilities to interact o n an international platform for trade and commerce\, on behalf of the orga nization\n the knowledge\, experience and skill to negotiate and successf ully close international sales deals\n the foresight\, understanding and awareness to handle any challenges arising during the course of the sales contract\, in accordance with the law\n the necessary knowledge and exper ience to draft or contribute to sales contracts in terms of clarity of inf ormation relayed therein\, thereby securing the interests of the organizat ion\n the confidence and knowledge to train other professionals on Incote rms 2020\n the knowledge and exposure to manage risks and contribute to o rganizational credibility through adherence to international standards\n the knowhow to handle legal cases and prevent exploitation of seller/buyer rights\n\nTraining Methodology\nTraining courses undergo a thorough revie w before the commencement of a training batch to check relevance of the co ntent to the intended audience. The training is delivered through lectures by a highly experienced professional from the relevant domain.\n\nTwo-way participation is ensured through group assignments and activities\, inclu ding role-plays. Relevant case study discussions by the trainer help relat e practical scenarios to the training content.\nOrganizational Benefits\nB y professionals enrolling for this course\, organizations will derive the following benefits:\n\n Trained and experienced professionals to provide valuable inputs on sales contracts\n More clear and hassle-free sales con tracts and agreements exchanged with parties in other countries\n Complia nce with internationally acceptable standards\n Reduced risks of legal ha ssles and issues related to risk sharing\, thus increasing credibility\n Increased investments because of better risk mitigation and increased cred ibility\, resulting in organizational growth and development\n Regular tr aining of employees regarding Incoterms 2020 rules\n Reduced costs and in creased profits because of adherence to international standards\n Quicker contract negotiations and elimination of misinterpretations of agreement clauses\n\nPersonal Benefits\nProfessionals enrolling for this course will benefit in the following ways:\n\n Complete knowledge and understanding of Incoterms 2020 rules for international sales and trade\n Increased ski ll and capability to negotiate sales contracts with buyers/sellers worldwi de\, thereby building one’s experience to interact on a global platform\ n Greater knowledge and confidence to train other professionals on Incote rms 2020 rules\n Increased understanding and knowledge of a universally a ccepted set of rules for international trade and commerce\, thus building one’s capabilities to work in any organization or industry\n Better neg otiation skills and confidence to successfully close deals for your organi zation\, demonstrating talent and potential and securing one’s growth an d progression within the organization\n Better understanding and more con fidence to handle challenges and legal issues pertaining to sales contract s\n Enhanced skill and understanding to prepare fool-proof sales contract s to share responsibility and ownership between parties\n Greater ability \, understanding and confidence to contribute to organizational growth and development through more successful sales deals\, reduced costs\, better risk management\, etc.\n\nWho Should Attend?\n\n Contract\, sales and pur chase managers involved in import and/or export of goods\n Trade finance officers responsible for inspecting and facilitating international trade a nd commerce\n Transport\, shipping and logistics managers responsible for maintaining and overseeing operations for their respective departments\, in accordance with international regulations\n Senior management of organ izations responsible for strategic sales and marketing for the organizatio n\n Customs officials and legal officers overseeing legal aspects of trad e and commerce across national boundaries\n Any other professional intere sted in knowing about Incoterms 2020 rules\n\nCourse Outline\nThe course c overs the following topics for understanding Incoterms 2020 rules:\nOvervi ew of Incoterms\n\n History\n Review process\n Summary of changes over time\n\nApplication of Incoterms\n\n Incorporated in sales/purchase contr acts\n Standardized approach to potentially difficult commercial issues\n Significant guidance from experienced professionals\n\nRules for Any Tra nsport Mode\n\n Ex Works EXW\n Free carrier FCA\n Carriage paid to CPT\ n Carriage and insurance paid to CIP\n Delivered at terminal DAT\n Deli vered at place DAP\n Delivered duty paid DDP\n\nRules for Sea and Inland Waterway Only\n\n Free alongside ship FAS\n Free on board FOB\n Cost an d freight CFR\n Cost insurance and freight CIF\n\nFour Types of Incoterm Rule Groups\n\n Buyer responsible for all carriage (EXW)\n Buyer arrange s main carriage (FAS\, FOB\, FCA)\n Seller arranges main carriage but ris k passes after main carriage (DAT\, DAP\, DDP)\n Seller arranges main car riage\; risk passes before main carriage (CFR\, CIF\, CPT\, CIP)\n\nCommon Mistakes in Using Incoterm Rules\n\n Conventional/traditional ‘sea and inland waterway only’ rule instead of ‘all transport mode’ rule for containerised goods\n Failure to specify port/place with sufficient prec ision\n Use of CIP or CIP without ascertaining whether insurance level ma tches commercial contract\n Failure to establish treatment of terminal ha ndling charges at point of arrival\n Failure to ascertain liaison between carrier and customs authorities when DAT or DAP used with a post-clearanc e delivery point\n Using DDP without checking whether seller can adopt al l formalities in buyer’s country\n Using EXW without checking implicati ons of buyer to complete export procedures\n\nAdvantages of Incoterms\n\n Speed of negotiation\n Elimination of ambiguity in across-country sales/ trade contracts\n Easier cost and liability management\n Leeway for buye rs to control supply chain\n Minimal liabilities for sellers\n\nDisadvant ages of Incoterms\n\n Misapplication\n Inflated costs for buyers\n Dela ys in good delivery and availability\n Impact on expenses and income\n\nI ssues Addressed by Incoterms 2020\n\n Risk transfer\n Export clearance\n Transport costs\n Insurance\n Use of carriers/forwarders\n Import cle arance\n Security-related clearances\n Electronic freight documentation\ n\n ATTACH;FMTTYPE=image/jpeg:https://x8ti.com/wp-content/uploads/2024/09/Scre en-Shot-2024-09-16-at-4.08.47-PM.png CATEGORIES:Procurement, Logistics and Supply Chain Management LOCATION:Kuala Lumpur Training Courses\, Banyan Tree Kuala Lumpur\, Kuala L umpur\, Malaysia\, Malaysia X-APPLE-STRUCTURED-LOCATION;VALUE=URI;X-ADDRESS=Banyan Tree Kuala Lumpur\, Kuala Lumpur\, Malaysia\, Malaysia;X-APPLE-RADIUS=100;X-TITLE=Kuala Lumpur Training Courses:geo:0,0 END:VEVENT BEGIN:VTIMEZONE TZID:Asia/Kuala_Lumpur X-LIC-LOCATION:Asia/Kuala_Lumpur BEGIN:STANDARD DTSTART:20251005T090000 TZOFFSETFROM:+0800 TZOFFSETTO:+0800 TZNAME:+08 END:STANDARD END:VTIMEZONE END:VCALENDAR