C1—Export-Import Transaction Fundamentals; Using Incoterms (2020)

Subscriber price: $246.00, Non-subscriber price: $320.00
Estimated total study time: 18 hours 52 minutes [Enroll now]

This course addresses the basic steps, and the key players, involved in concluding and fulfilling an export-import transaction. Addressed in detail are the role of trade terms (Incoterms) in defining the responsibilities of the seller (exporter) and buyer (importer) for respective shipping arrangements, the division of costs and point in the shipment process when risk of cargo loss and damage passed from seller to buyer.

This course also addresses the role of the freight forwarder in properly arranging shipments based on the applicable trade term.

Access to a copy of the ICC publication Incoterms 2020 is strongly encouraged but not necessary for course completion. This publication may be purchased through numerous commercial book stores and directly from (https://www.iccbooks.com/).

Note that GISTnet has other courses about Incoterms that may be more suitable to your needs. For example, if you simply want a short update concerning latest changes in Incoterms, there is course C1.1—Overview of Incoterms with 2020 Changes. Freight forwarders should consider either C1.2—Introduction to Incoterms for Forwarders & Customs Brokers (2020) for junior personnel, or C1.3—Working with Incoterms, Including Practical Concerns & Forwarder Issues at Time of Shipment (2020) for forwarder managers and supervisors.

1. Introduction - Benefits and Basic Elements of Exporting

We introduce our course topic by pointing out the benefits of exporting and importing, and what the requirements which make such transactions more complex than domestic sale/purchase/delivery transactions. We also begin to address the various parties, in addition to the seller and buyer, who facilitate international trade.

(Estimated study time: 59 minutes)

2. Anatomy of Commercial Export-Import Transactions, cont.

(Estimated study time: 50 minutes)

3. Transaction Time Schedule vs. Risks

An export-import transaction typically takes longer to negotiate and fulfill than a domestic sale. There is more information to gather, issues to decide, tasks to accomplish, impediments which can arise. This lesson addresses the relationship between time needed to accomplish the transaction and associated risks such as shipping costs, currency fluctuation and payment.

(Estimated study time: 1 hour 4 minutes)

4. Additional Export/Import Transaction Negotiation Concerns

(Estimated study time: 1 hour 18 minutes)

5. Trade Facilitation through Standards; Intro to Incoterms

(Estimated study time: 51 minutes)

6. Summary of Incoterms (2020)

(Estimated study time: 1 hour 4 minutes)

7. Seller and Buyer Responsibilities Under All Incoterms; Passage of Risk

(Estimated study time: 55 minutes)

8. Passage of Risk if Buyer Fails to Take Delivery; Arranging Transport; Required Notices

(Estimated study time: 1 hour 5 minutes)

9. Trade Term Citation Particulars Required

(Estimated study time: 1 hour 1 minute)

10. EXW—Additional Requirements and Concerns

(Estimated study time: 1 hour 8 minutes)

11. "F" Terms—In General; FCA Delivery Concerns

(Estimated study time: 49 minutes)

12. FAS and FOB Issues & Concerns

(Estimated study time: 1 hour 9 minutes)

13. "C" Terms Issues & Concerns

(Estimated study time: 40 minutes)

14. "D" Terms Issues and Concerns

(Estimated study time: 49 minutes)

15. Division of Incoterms Responsibilities and Costs (Matrices)

(Estimated study time: 1 hour 11 minutes)

16. Use of Trade Terms in Negotiating a Sales Contract

(Estimated study time: 53 minutes)

17. Which Incoterm to Offer; Interpretation and Special Situations

(Estimated study time: 52 minutes)

18. Export Quotation Problems Involving Use of Trade Terms

(Estimated study time: 1 hour 11 minutes)

19. Responsibility for Cargo Insurance; Typical Incoterms Interpretation Issues

(Estimated study time: 1 hour 3 minutes)