Foundations of Incoterms 2010

Incoterms® 2010 rules came into force on January 1, 2011. This is the eighth Incoterms® revision since their inception in 1936. During its 2 ½ year revision process, international business and legal experts considered more than two thousand recommendations from many of the 130+ countries with which the International Chamber of Commerce (ICC) has a relationship. The result is a vastly improved version, tailored specifically to the needs of users throughout the world.

American users have a particular stake in the Incoterms® 2010 rules. In 2004 the shipment and delivery terms formerly found in parts 2.319 through 2.324 of the Uniform Commercial Code were deleted. Free of the “FOB confusion” found in the old UCC terms, Incoterms® rules make a logical replacement. Incoterms® 2010 rules are far more amenable to U.S. domestic use than any previous version. The changes are both sweeping and practical. This revision considers the post 9/11 cargo security regulations and new Institute Cargo Insurance Clauses. Delivery, if tied to ownership, critically important for revenue recognition compliance, is also addressed in far greater detail.

This half-day seminar provides a basic overview of the rules and materials you need to use these improved Incoterms® rules to your advantage. While the cost of this class DOES NOT include a copy of Incoterms 2010, copies will be available as an optional purchase at the class.

Consider taking both the “Foundations of Incoterms 2010” and “Advanced Incoterms 2010” as a full-day training. Register for both classes and lunch will be included from 12:00pm-1:00pm.

Instructor(s)...
Roy Becker, Roy Becker Seminars

Recommended for...
All international sales, purchasing, legal, finance, and logistics people.

Prior knowledge...
As a foundations level course, this provides an introductory look at Incoterms. No prior knowledge is required for this training.