Introduction to Incoterms
Course Lessons: 3
Minutes of Learning: 90
Cost: $85
- The meaning of various Incoterm codes and how they are grouped for practical application.
- How Incoterms allocate costs, obligations, and the risk of loss or damage between the seller and buyer.
- Responsibility for arranging transportation and the required notices each party must provide under different Incoterms.
Course Overview
This course provides a comprehensive overview of Incoterms and their role in standardizing buyer and seller obligations in international trade. Participants will learn what Incoterms specify—and what they do not—along with the meanings and groupings of different trade term codes. The course covers cost allocation, risk transfer, transportation responsibilities, and required notifications under each term, ensuring a clear understanding of seller and buyer obligations in global transactions.
What Incoterms are, and how they facilitate trade by creating a standard way of dividing obligations between a buyer and seller under various export-import shipment scenarios.
What Incoterms specify and what they do not specify.
What the various Incoterms trade term codes stand for, and how they are grouped for better understanding.
How Incoterms divide costs between seller and buyer.
Seller’s obligations under all Incoterms
Buyer’s obligations under all Incoterms
Passage of risk of loss or damage to goods under various trade terms.
Who is responsible for arranging primary transportation under various trade terms.
Required notices that each party (seller and buyer) must provide to the other party.