Developed by the International Chamber of Commerce, Incoterms are recognized worldwide as standard ‘shipping terms of sale,’ providing importers and exporters with a set of standard rules for deciding where costs and risks will transfer between the parties in international shipping.
Despite being in use since 1936, many importers and exporters do not use Incoterms, or use them inappropriately, increasing the likelihood of disagreement over costs, and increased liability. In fact, a recent survey of Canadian organizations revealed that 87% of companies selecting an Incoterm were selecting the wrong term for containerized shipments. And an earlier study involving 1,000 international freight forwarders showed that almost 50% of forwarders were also using Incoterms incorrectly when shipping ocean containers.
This hour-long webinar will discuss the merits of each of the eleven terms in Incoterms 2010, including the transfer points for cost (freight, insurance and customs formalities) and risk. It will also review the appropriate use of Incoterms for various modes of transport, including containerized marine shipments, and the point where cargo insurance should be considered if applicable.
By attending this webinar, you’ll gain:
Improved knowledge of the risks associated with international trade
Awareness of the benefits associated with using Incoterms for international shipping
Better understanding of which Incoterms are most appropriate for different modes of transport
Knowledge of who pays for what costs associated with each Incoterm
The ability to identify the point where cargo insurance should be considered
Peace of mind knowing you’ve protected your company’s interests, and your own!
Laurie Turnbull, CCLP, Supply Chain Consultant, Cole International Inc.
Laurie Turnbull, CCLP, is a supply chain consultant with Cole International Inc., a leading provider of customs brokerage, transportation, and warehousing services. Laurie’s extensive background in supply chain management includes experience in both manufacturing and the transportation industry. He holds a Master’s Degree in Operations & Supply Chain Management, and a CCLP designation as a logistics professional.
He is actively involved in supply chain management education with CITT, and the Schulich School of Business at York University in Toronto. In 2014 Laurie was awarded the CITT Award of Excellence, given to an individual whose career has exemplified innovation in the field of supply chain logistics and who has accumulated many notable achievements. He is a frequent speaker at industry events and a contributing columnist for Canadian Shipper magazine on topical supply chain issues.