C1.1—Overview of Incoterms with 2020 Changes

Subscriber price: $39.00, Non-subscriber price: $50.00
Estimated total study time: 3 hours 10 minutes

This is a short course to introduce the role and importance of trade terms (Incoterms) to specify respective seller and buyer responsibilities in an export-import transaction. This course also highlights key changes in Incoterms 2020 for those already aware of Incoterms.

Important: This is not "nuts and bolts" training for those (sellers or buyers) who will be negotiating international transactions, nor for service providers such as international forwarders and customs brokers, who must interpret and act on trade terms for specific transactions and/or advise others. We recommend GISTnet courses C1 or C1.3 for more in depth training in Incoterms.

Summary of Incoterms

(Estimated study time: 1 hour 23 minutes)

• Introduction
• "Trade Terms"
  • General
  • Delivery and Passage of Risk vs. Passage of Title
  • Summary—Key Trade Terms Issues
• Summary of Incoterms
  • Direct Reference to Incoterms Publication
  • "E" Term (EXW)
  • "F" Terms
  • "C" (Cost Paid to) Terms
  • "D" (Delivered) Terms
  • Summary Chart of Seller and Buyer Responsibilities Under Each Trade Term

Changes in Incoterms 2020; Seller and Buyer Responsibilities Under All Incoterms

(Estimated study time: 1 hour 5 minutes)

• Changes Made in INCOTERMS 2020
• Seller and Buyer Obligations Under All Incoterms
  • SELLER's Obligations Under All Incoterms
  • BUYER's Obligations under All Terms

Delivery and Passage of Risk Under Incoterms (2020)

(Estimated study time: 42 minutes)

• Introduction
• Passage of Risk Coincides with Delivery of Goods
  • General Passage of Risk
  • Passage of Risk If Buyer Fails to Take or Accept Delivery