FOB, CFR & CIF are already outdated and are dangerous terms to use. Many traders are presently using FOB. CFR & CIF without knowing the risks involved. Traders instead should switch to use FCA, CPT and CIP. Incoterms are international rules published by the International Chamber of Commerce for the interpretation of trade terms. There are altogether 13 trade terms under Incoterms 2000 viz; EXW, FOB, FCA, FAS, CFR, CIF, CPT, CIP, DAF, DES, DEQ, DDU, DDP Exporters and Importers, and insurers. Freight Forwarders and Carriers need to be aware new changes in Incoterms 2000 which have critical implications to their business
| Workshop Curriculum |
- What are Incoterms - Its purpose and scope
- What important matters are covered by the new Incoterms 2000 and what are the main changes
- How will Incoterms 2000 affect the relationship and specific responsibilities between seller & buyers
- What are the critical points under Incoterms 2000 for the transfer of risks and costs
- Which Incoterms 2000 are most appropriate for which mode of transportation
- A detailed diagrammatic analysis of the 13 trade terms under Incoterms 2000
- Why EXW. FOB, CFR & CIF are dangerous terms to use
- Why FOB, CFR & CIF are no longer relevant for use in containerized shipment
- Relationship of Cargo Insurance with Incoterms
- Relationship of Methods of Payment with Incoterms
- Issues outside the scope of Incoterms 2000.
- Variances on Incoterms 2000: EXW (Loaded). FOB (Stowed), CFR (Landed), etc
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Instructor
This workshop will be conducted by Victor Tan, MBA (Strathclyde), ACIB, MInstAM, a qualified Life Associate Member of The Chartered Institute of Bankers, London. He has 15 years of banking experience covering the areas of International Trade Finance, Remittances, Guarantees, Import and Export departments. He has worked with various International Banks since 1977 starting with Standard Chartered Bank, Amsterdam-Rotterdam Bank, Bangkok Bank, Royal Trust Merchant Bank and lastly Barclays Bank, where he was Deputy Head, Trade Finance, on leaving the Banking industry in 1992.
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