Transcript incoterms ----november-2014. ppt

The Professional Standard for International Trade
©2010
Trade Technologies, . All rights reserved.
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Incoterms® 2010
©2010 Trade Technologies, Inc. All rights reserved.
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INCOTERMS® 2010
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Who set the rules?
International Chamber of Commerce (ICC)
Founded 1919 in Paris
International representatives from
over 120 countries
Conforms with WTO, U.N., G20
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©2010 Trade Technologies, Inc. All rights reserved.
INCOTERMS® 2010
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What are they?
Incoterms (International Commercial Terms)
 3 Letter trade terms that relate to common sales
practices:
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Standardizes rules
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Defines responsibility
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Outlines costs included in each term
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Reveals gaps in all areas of concern
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Determines specific delivery point
©2010 Trade Technologies, Inc. All rights reserved.
Incoterms® 2010 – The Basics
Considerations
• How will the goods be shipped?
• Who will pay the costs of the transportation and
Insurance?
• Have all the necessary costs been included in the final
pricing?
• What risks are involved with the terms that are being used?
• What is the exact location point where risk transfers from seller
to buyer?
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©2010 Trade Technologies, Inc. All rights reserved.
Incoterms® 2010
Common Misconceptions. . .
 Incoterms do not:
o Transfer legal title or ownership of goods.
Transfer, title, or ownership process begins with
exchange of documents
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Exchange of money for documents
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Delivery of goods per Incoterms®
=
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Title Transfer
©2010 Trade Technologies, Inc. All rights reserved.