INCOTERMS 2010

Effective January 1, 2011, a new set of rules on INCOTERMS (shipping terms used for land, air and sea) in all international trade transactions will be in force globally. Exporters and importers, traders, bankers, insurers, freight forwarders and carriers need to be aware of these changes as they will have tremendous impact on trade documentation and critical implications for their businesses, especially in the:

• Carriage of goods between seller/buyer
• Export and import clearance requirements
• Allocation of costs between seller & buyer
• Acquisition of cargo insurance
• Assumption of risks for loss and damage

Understanding these new rules and incorporating their use in sales contracts eliminates the uncertainties, errors and costly mistakes in the interpretations created in a trade transaction. This are for those involved in international trade transactions and for entrepreneurs and businessmen who plans to be in the import and export business.

This program is MCLE Accredited.