Incoterms 2020 (INC)
Overview
*** This can be done as part of Mechanism of Freight Program ***
Explaining the importance of understanding the cost & risk of each trade transaction in the logistics environment. The definition of the precise point at which the seller of goods in international trade “delivers” those goods to the buyer. Explaining the duties & obligations of the seller & the buyer respectively about the movement of goods and their responsibilities, risks and costs. Usage of correct Incoterm for Air, Sea, Road with a visual simulation of each incoterm.
Additional Information
SAQA Unit Standards
252437 Interpret and apply International commercial terms. Level 3 Credits 3.
Who should do this course?
Any person dealing with risks & costs in the supply chain – exporters, importers & freight forwarders acting on behalf of the importer & exporter.
Assessment required for competency.
Outcomes
- Role players – seller, buyer, bank, ports, customs, freight forwarder, clearing agent, governments, etc.
- International Commercial Terms: Incoterms® 2020 – the importance of understanding the cost & risk of each trade transaction in the logistics environment.
- The definition of the precise point at which the seller of goods in international trade “delivers” those goods to the buyer.
- Explaining the duties & obligations of the seller & the buyer respectively with regards to the movement of goods and their responsibilities, risks, and costs.
- Definitions: EXW, FCA, FAS, FOB, CFR, CIF, CPT, CIP, DAP, DPU, DDP.
- Usage of correct Incoterm for Air, Sea, Road.
- Visual simulation of each incoterm.
- Visual simulation of different trade transaction.
- Visual simulation of decisions made as a buyer, seller, or freight forwarder in different scenarios.
Additional Info:
NQF Level: 3
Credits: 3
Duration:
1 Day Contact Class or Own Speed Online and Virtual
Learning Methodologies:
| Method | Duration | Price * |
| CC | 1 day | 3,350.00 |
| VS | 1 day | 3,350.00 |
| OD | 1 day | 2,350.00 |
*All prices are excluding VAT.
Contact training@dev.metrominds.co.za
for group pricing