Mastering Incoterms 2020 (ICC) In Import Export Management

Mastering Incoterms 2020 (ICC) In Import Export Management


Date : 16 November 2020
Time : 09:00 am - 12:30 pm
Venue : Webinar


INTRODUCTION

The International Commercial Terms (ICC 2020) rulings are to be used in the contract of sale of goods effective in the year 2020. Highlights being the change of name in DAT to DPU (Deliver to place unloaded). Additional important obligations in FCA, CIP, CIF, DAP, DDP and resolutions on cyber security-related matters and insurance.

 

The contemporary business landscape changes have created a proliferation of additional trading risks and costs across the borderless territories. In these crucial risk gaps, proper understanding and application of Incoterms would contribute to a viable contingency plan in and out of the distribution chain. A stronger defensive resolution is in place against all contractual disputes and costly mistakes.

 

OBJECTIVES

  • Understanding the provisions and resolutions of Incoterms 2020
  • Learning the contractual and operational constraints of  Incoterms
  • Managing the risks and costs in the Incoterms distribution chain
  • Familiarizing the conflicting factors between shipping and Incoterms
  • Empowering Incoterms with Logistics and Negotiation Competencies

 

WHO SHOULD ATTEND

A mandatory and competency course for managers, executives in the department of Finance, Costing, Planning, Logistics, Shipping, Distribution, Procurement, Business Development, Customer Service and Order Management.

 

HIGHLIGHTS

  • The 4D’s Roadmap of Incoterms Strategic Planning
  • The Simplified Operational Factors of the 4C’s
  • The Comparison Illustration of Incoterms 2010 and 2020
  • The Appropriation and Familiarization of trade documents

 

METHODOLOGY

Remote online learning – virtual classroom

 

PRE-REQUISITE

  • Good Internet / wifi connectivity
  • Laptop / smartphone
  • Headset with mic
Module Session
Module 1 Overview of Incoterms implied undertakings and dispute factors
 
  • The 4D’s of Define, Design, Detect, Defend in planning stage
  • The 4C’s of Carriage, Customs, contracts, Control in the chain
  • The 4T’s transaction terms of Payment, Sales, Delivery, Title
Module 2 Understanding the contractual and volatile scope of Incoterms
 
  • The responsibilities and obligations of the seller and buyer
  • The division and diversion of the costs and risks factors
  • The closure of the supply and delivery contractual gaps
Module 3 Familiarizing the major terminologies of Incoterms and shipping
 
  • Carrier and Shipper in the contractual implication
  • Delivery and Obligation of seller and buyer context
  • Packaging and Packing requirement in shipping
Module 4 Categorizing the main grouping of the 11 Incoterms usage
 
  • By sea and water-way transport versus other transport modes
  • By other obligatory modes with cargo unloaded at destination
  • By other delivery options at arrival with customs clearance
Module 5 Positioning the aggregate terms into Air, Sea, Ground execution
 
  • The terms and ruling of CIF, CFR, CIP, CPT
  • The terms and ruling of EXW, FOB, FCA, FAS
  • The terms and ruling of DAT, DAP, DDP
Module 6 Plotting the costs and risks lines between buyer and seller
 
  • The positioning of the port, point, place and premise
  • The allocation of the first carrier and forwarders nomination
  • The interpretation of port to port and door to door delivery
Module 7 The 2010 ruling of Chain of Custody and String Sales transaction :
 
  • Understanding the security threats and mitigation
  • Understanding the preservation of cargo inherent nature
  • Understanding the fulfillment of ownership transfer
Module 8 The 2010 ruling of control and compliance factors provisions :
 
  • The contract of insurance and carriage executed
  • The transfer of risks and allocation of costs required
  • The tendering and terminating of delivery obligated
Module 9 Incoterms 2020 rulings and resolutions
 
  • Demarcation and substitution of the Sale Contract
  • Renaming DAT to DPU (delivered at place unloaded)
  • Application of the shipping terms On Board in FCA
  • Application of the shipping VGM under the SOLAS
  • Listing of all costs related to sale of goods sold
  • Specification of the ICC marine cargo clause in CIF, CIP
  • Provision of information in cyber security-related areas
  • Arrangement of own transport in FCA, DPU, DAP, DDP
  • Precaution guidelines on Incoterms Do’s and Don’t’s

S

Stephen Kum Foong Sang


Stephen Kum Foong Sang (TTT 0484)
Corporate Trainer and Management Consultant,
MBA, F.IFA

 

Stephen graduated with Master of Business Administration from Newport University, United States. He is  a fellow of the Institute of Freight Forwarders (UK), The Institute of Logistics & Transport (UK), The Institute of Business Administration (UK), Professional Member of Logistics & Supply Chain Management Society and former Vice Chairman of Persatuan Logistik Selangor. His consultancy expertise relates to implementing logistics strategy, criteria in selection of carriers, supply chain integration and Incoterms contracts.

 

He has more than 28 years of hands-on experience in the field of international trade, global procurement, freight and logistics supply chain management.  His consultancy expertise relates to implementing logistics strategy, criteria in selection of carriers, supply chain integration and Incoterms contracts. 

 

He held various senior positions as Managing Director of a global logistics service provider with regional offices in United Kingdom, United States, Australia and Asia. On contractual appointment, he was the Country Manager with Esprit Shipping (HK), Sales Director with Karl Schroff Associate (US) and Regional Manager with Port Cargo Ltd (UK). His affiliation includes Cambridge International College (UK) as their Logistic Program Examiner and Durham Logistics College (UK) as their Program Consultant. Currently, a Resident Consultant for SCS Consultation Services (UK) and TPL Global Chains Management (US).



Price

RM 470.00

75

2 Day/s

Webinar

HRDF SBL Claimable

CPD Points & Certificate of Attendance Will be Provided