Incoterms ® 2020 - A Compact Course

Compact Understanding of using Incoterms ® 2020 in Import Export Business

4.40 (260 reviews)
Udemy
platform
English
language
Operations
category
1,025
students
1 hour
content
Nov 2023
last update
$39.99
regular price

What you will learn

Understanding Pros and Cons in choosing an Incoterm in a trade contract

Visualize the flow of costs, risks and responsibilities in Incoterms 2020

How to practically apply Incoterms 2020

Understanding differences between Incoterms 2010 and Incoterms 2020

Description

Incoterms ® 2020 is the backbone of contracts in import-export businesses and international trade. If an incoterm is chosen without understanding its practical applicability and pros and cons, then it can very well cost you dearly at a later stage of the trade.


This course covers-

  1. Understanding the Nomenclature

  2. Understanding the difference between Place of Delivery, Destination, and Final Destination of Goods

  3. Rules for all modes of transport

  4. Maritime Rules

  5. Clustering of Incoterms according to responsibility

  6. Varying definitions of 'Delivery' in different Incoterms

  7. Maritime Rules and Container Shipments - Why is it such a big No?

  8. Caution Using EXW

  9. FCA and On Board Bill of Lading - Is it really a solution?

  10. Transport Documents - Responsibilities in Different Incoterms ® in a Nutshell

  11. Export/Import Clearance - In a Nutshell

  12. Allocation of Costs - In a Nutshell

  13. Analysis of the D Rules - How choosing the D rules can affect you

  14. Understanding the Compatibility - Letter of Credit and Incoterm Rules 2020

  15. Possible Checkpoints and Key Learnings for Incoterm Rules 2020

  16. Differences between Incoterms ® Rules 2010 and Incoterms ® Rules 2020

  17. Case Studies



This course is meant for -

  1. Importers and Exporters - Signing contracts without understanding Incoterms can be catastrophic

  2. Bankers handling trade documents - Know the risk your bank bears while handling trade documents with a chosen incoterm and be better equipped to make decisions and advice customers

  3. Anyone in the Logistics and Transportation Industry - You are the one who materializes the actual steps of a chosen incoterm in a trade contract



This course is compact. It not only covers the basic cost and risk bifurcation between buyers and sellers but includes a thorough analysis of the practical applicability and hindrances faced in using each incoterm.


The course is carefully curated to include learning from the masters of logistics, trade, and banking industries, their best advice and do’s and don’ts.


Starting from the basic understanding of the incoterm rules nomenclature to a detailed analysis of the consequences of using DAP incoterm for LCL cargo, this course covers everything from beginner to intermediate to advanced learnings.


And each and every term or concept used in this course has been explained from scratch, so even if you are a beginner learning Incoterm Rules you will be completely at ease with the pace of this course.


Also, this course uses engaging visual animations to explain each concept in a way the learning remain etched in your memory.


This is not just a theoretical dictation of the incoterm rules chart but a practical guide and is meant for the exporters, importers, anyone in the logistics industry, and for bankers handling trade documents.


Content

Introduction and Preliminary Concepts of Incoterms

Why this course?
Introduction to Incoterms ® 2020
Incoterms ® Rules Nomenclature
Understanding Place of Delivery, Destination and Final Destination of Goods

The Incoterms ® 2020

EXW and FCA
CPT and CIP
The D Rules - DAP, DPU and DDP
The Maritime Rules - FAS, FOB, CFR and CIF
Clustering of Incoterms ® Rules 2020

Differences between Incoterms ® Rules 2010 and Incoterms ® Rules 2020

Differences between Incoterms ® Rules 2010 and Incoterms ® Rules 2020

Analysis of Incoterms ® 2020 - Concepts that make the difference

Analysis of the Delivery Concept in Different Incoterms ® Rules
Maritime Rules and Container Shipments - Why is it such a big No?
Caution Using EXW
FCA and On Board Bill of Lading - Is it really a solution?

Visualizing the Distributions

Transport Documents - Responsibilities in Different Incoterms ® in a Nutshell
Export/Import Clearance - In a Nutshell
Allocation of Costs - In a Nutshell

Analysis of the D Rules

Analysis of the D Rules

Letter of Credit and Incoterms ® Rules 2020

Understanding the Compatibility - Letter of Credit and Incoterm Rules 2020

Possible Checkpoints and Key Learnings for Incoterms ® Rules 2020

Possible Checkpoints for Incoterm Rules 2020
Key points about Incoterms ® Rules 2020

Case Studies

Case Studies

Screenshots

Incoterms ® 2020 - A Compact Course - Screenshot_01Incoterms ® 2020 - A Compact Course - Screenshot_02Incoterms ® 2020 - A Compact Course - Screenshot_03Incoterms ® 2020 - A Compact Course - Screenshot_04

Reviews

Mateusz
October 29, 2023
Overall, it's a good course but unless you can remember all the incoterms at the beginning, the rest of the course is hard to understand with all the FOBs, CIFs and DDPs flying around :/
Jake
May 23, 2023
this training was the perfect level of detail and provided the right info to refresh my memory on incoterms

Charts

Price

Incoterms ® 2020 - A Compact Course - Price chart

Rating

Incoterms ® 2020 - A Compact Course - Ratings chart

Enrollment distribution

Incoterms ® 2020 - A Compact Course - Distribution chart
3904030
udemy ID
3/10/2021
course created date
3/21/2021
course indexed date
Bot
course submited by