Incoterms 2010

Objectives

The objectives of this Learning Unit are to understand:

  • The responsibilities of the Exporter and Importer under Incoterms 2010
  • How Incoterms are used in International Trade transactions.

Learning Unit Summary

Incoterms are a set of international rules for the interpretation of trade terms set forth by the International Chamber of Commerce. The word INCOTERM comes from an abbreviation of INternational COmmercial TERMs. In international trade transactions one of the aspects to be defined is the place of delivery of goods. This place, previously agreed between the importer and the exporter, must be stated in the international sales contract. INCOTERMS 2010 facilitates this by clearly defining the place of delivery, who is responsible for the transport to the place of delivery, who assumes the risks and the point at which risk passes from the exporter to the importer, who customs clears the goods for import/export and many more important obligations.

Course Contents

  • What are Incoterms?
  • Analysis Comparative Tables
  • Group E: EXW
  • Group F: FAS FCA FOB
  • Group C: CFR CIF CPT CIP
  • Group D: DES DEQ DDU
  • DDP DAF
  • How are they used?
  • Comparative Table 1990 – 2000

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