The Incoterms®Rules are an essential business tool for international trade because they define delivery responsibilities and apportion cost obligations and risk between sellers and buyers.

Since the last revision in 2000, there have been fundamental changes in global trade. Cargo security is now of paramount importance, The United States has revised its Commercial Code, new insurance Cargo Clauses have been adopted and point to point delivery with associated electronic procedures is now more common.

The new Incoterms®Rules have been developed to take account of these changes. The number of rules has been reduced from 13 to 11, with four of the old terms being abolished and two new terms being created. There have been changes to the conditions for those terms that have been retained.

 The new terms will be divided into two distinct groups, those for sea freight only and those for any mode of transport. The new rules are designed for use both between and within countries and customs – free blocks.

It is considered essential that all parties involved in international trade clearly understand the new rules to maximise legal certainty in transactions. 

GWE Business West’s Training & Development are putting on two seminars on 23rd November that will be particularly relevant to sales, purchasing, shipping, finance, customer service staff and senior managers from both exporters and importers as well as those from freight forwarders, shipping and financial institutions.

Click on links below to book now – there are two sessions to offer a choice of time to suit you.

Incoterms®Rules Update – Session 1 (12noon – 2.15pm)

Incoterms®Rules Update – Session  2 (3pm – 5.15pm)

View all our business skills & learning courses at www.trainingforbusinesspeople.co.uk as well as other courses available relevant to international trade.