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“Incoterms 2020” Seminar
September 19, 2019 @ 8:00 am - 4:00 pm
ABOUT INCOTERMS® 2020 RULES & THE SEMINARICC’s world renowned Incoterms® rules facilitate trillions of dollars in global trade each year. Coming soon, the 2020 rules!During its revision process, international business and legal experts considered more than two thousand recommendations from many of the 130+ countries.
What are Incoterms® rules? ICC’s Incoterms® rules are the world’s essential terms of trade for the sale of goods. Whether you are filing a purchase order, packaging and labeling a shipment for freight transport, or preparing a certificate of origin at a port, the Incoterms® rules are there to guide you. The Incoterms® rules provide specific guidance to individuals participating in the import and export of global trade on a daily basis.
Why use Incoterms® rules in international trade? Although other clauses for global trade around the world, such as the Harmonized Tariff Schedule of the U.S., Incoterms© rules are global in their reach. Similarly, Incoterms© do not include trade terms codified for national purposes, such as U.S. shipping and delivery terms Uniform Commercial Code parts 2-319 through 2-324.
Who publishes the Incoterms® rules? Since its founding in 1919, ICC has been committed to the facilitation of international trade. Different practices and legal interpretations between traders around the world necessitated a common set of rules and guidelines. As a response, ICC published the first Incoterms® rules in 1936. As ICC celebrates its Centenary in 2019, the world business organization is pleased to announce the preparation and publication of Incoterms® 2020. This newest edition of the Incoterms© rules will help prepare business for the next century of global trade. Each attendee will receive a copy of the book along with Frank Reynolds’ newest publication,Incoterms® for Americans® – Rewritten as well as comprehensive seminar notes.
What does Incoterms® stand for? Incoterms® is an acronym standing for International Commercial Terms. Incoterms© is a trademark of the International Chamber of Commerce, registered in several countries. The Incoterms® rules feature abbreviations for terms, like FOB (“Free on Board”), DAP (“Delivered at Place”), EXW (“Ex Works”), CIP (“Carriage and Insurance Paid To”), which all have very precise meanings for the sale of goods around the world.
These terms hold universal meaning for buyers and sellers around the world. If you are a financial analyst in the City of London, then you might associate the acronym “FCA” with the UK’s Financial Conduct Authority. However, for importers and exporters around the world, FCA are the initials used for “Free Carrier,” or the seller’s obligation to deliver the goods to the carrier nominated by the buyer at the seller’s premises or another named place. The 2020 changes are both sweeping and practical. This seminar provides the information and materials you need to use these improved Incoterms® rules to your advantage!
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