Date: Wed., January 30, 2013, 8:15 AM to 1:00 Location: Automation Alley
2675 Bellingham, Troy, MI 48083
Fee: $195.00 incudes continental breakfast, and copy of Incoterms® 2010
INCOTERMS® – THE MOST IMPORTANT & LEAST UNDERSTOOD KEY TO EXPORT SUCCESS
When you export, at some point the risk for your sale transfers from the seller/exporter to the buyer/importer. Incoterms spell out when that risk transfers and what the rights and obligations of the parties are before and after that transfer of risk. Without a solid understanding of Incoterms, you cannot properly manage the risk of your export activities.
If you are involved in the sales, transportation, contract management, risk management, insurance, financing, and legal aspects of an international transaction, you should be highly familiar with Incoterms so as to avoid the many horror stories that can befall the uninformed when selling internationally. It is critical to understand the risks involved in international transactions and how to manage these.
ABOUT INCOTERMS® RULES & THIS SEMINAR
Incoterms 2010 is the latest version of Incoterms and covers many changes. Even seasoned export professionals may not know that FOB, FAS, CFR and CIF are no longer appropriate Incoterms to use with U.S. exports shipped in containers. Both the seasoned export professional and the new to export person will benefit from this program, which includes free copies of Incoterms® 2010 (published by the ICC) and Incoterms for Americans (co-authored by the instructor, Frank Reynolds), a value of $120.00.
Incoterms are increasingly being used for domestic shipments too. In 2004 the shipment and delivery terms formerly found in parts 2.319 through 2.324 of the Uniform Commercial Code were deleted. Free of the "FOB confusion" found in the old UCC terms, Incoterms® rules make a logical replacement. Incoterms® 2010 rules are far more amenable to U.S. domestic use than any previous version.
Incoterms® 2010 rules came into force on January 1, 2011. It is the eighth Incoterms® revision since their inception in 1936. During its 2½ year revision process, international business and legal experts considered more than two thousand recommendations from many of the 130+ countries with which the ICC has a relationship. The result is a vastly improved version, tailored specifically to the needs of users throughout the world.
East Michigan District Export Council
Michigan State University International Business Center
US Commercial Service