Developed by the International Chamber of Commerce, Incoterms are recognized worldwide as standard ‘shipping terms of sale,’ providing importers and exporters with a set of standard rules for deciding where costs and risks will transfer between the parties in international shipping.
Despite being in use since 1936, many importers and exporters do not use Incoterms, or use them inappropriately, increasing the likelihood of disagreement over costs, and increased liability. In fact, a recent survey of Canadian organizations revealed that 87% of companies selecting an Incoterm were selecting the wrong term for containerized shipments. And an earlier study involving 1,000 international freight forwarders showed that almost 50% of forwarders were also using Incoterms incorrectly when shipping ocean containers.
This hour-long webinar will discuss the merits of each of the eleven terms in Incoterms 2010, including the transfer points for cost (freight, insurance and customs formalities) and risk. It will also review the appropriate use of Incoterms for various modes of transport, including containerized marine shipments, and the point where cargo insurance should be considered if applicable.
By attending this webinar, you’ll gain:
If you need any help registering, please contact Marysa at mmackinnon@citt.ca