Effective Uses and Applications of INCOTERMS in International Trade

Duration 7 Hours
Tel 68263056
Email munyin@smfederation.org.sg

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Incoterms are the trade terms that are key elements to international trade contracts. Understanding the terms is crucial and necessary to avoid costly misunderstanding in business.

This seminar will develop and extend your knowledge of these terms in details and how to apply them in a practical manner. You will learn how to use the terms to your advantage. You will also understand the rights and obligations of the buyer and seller. This course will show you how Incoterms can be a powerful tool in your business dealing. 

1. Introduction to Incoterms

2. Reasons for using Incoterms

3. Comparing the old and new terms

4. What are the changes in the new Incoterms

5. Incoterms and the modes of transportation

6. Meaning of the specific terms such as EXW, FCA, FOB, CFR, CIF, etc

7. Understanding the passing of risks

8. Incoterms and implications in the sales contract

9. Obligations of seller and buyer

10. How to do quotation and prevent losses

11. How to choose the right terms and use it to your advantages

12. Understanding the expenses and responsibilities

13. Handling of disputes and conflicts in the Incoterms

14. Implication of Provisions in the Incoterms

15. Using Incoterms in business negotiation

16. Case study  

1 day ( 9.00am ~ 5.00pm)

SMF Members: $428.00*
Non-Members: $481.50*
*Prices are inclusive of 7% GST

Telephone: 6826 3100
Fax: 6826 3113
Email: enquiry.ccl@smfederation.org.sg

Terms & Conditions

1. All notice of withdrawal must be given in writing before the issuance of letter of confirmation. Once confirmation letter is sent to participant, no cancellation will be allowed or penalty charges will apply.

If notice of withdrawal is received:

- At least 1 week before commencement of the course, a 20% of the full course fee will be charged. For government-funded course, a 20% of full course fee before funding will be charged.

- Less than 1 week before commencement of the course, a 30% of the full course fee will be charged. For government-funded course, a 30% of full course fee before funding will be charged.
- No show on the scheduled date, a full course fee will be levied. For government-funded course, a full course fee before funding will be charged.

2. For all government-funded programmes (WSQ & Non-WSQ), funding is only applicable to:
- Singapore Citizens or Singapore Permanent Residents
- Participants who have achieved at least 75% attendance and sat for all required assessments

Full course fee will be charged to participants who fail to meet the above-mentioned criteria.

3. When a course is cancelled, fail to commence or fail to complete under unforeseen circumstances, participant is allowed to defer the intake at no cost or withdraw from the course; under such situation, a full refund of the advance payment will be given.

4. Notice of change in participant’s name must be given in writing, not less than 5 days before the course commencement date.

5. SMF CCL reserves the right, at our sole discretion, to change, modify or otherwise alter these terms and conditions at any time. Such modifications shall become effective immediately upon the posting thereof.