UNDERSTANDING INCOTERMS 2020, CUSTOMS PROCESS AND TRADE FINANCING INTERNATIONAL AND DOMESTIC TRADE
Details
INTRODUCTION FOR UNDERSTANDING INCOTERMS 2020, CUSTOMS PROCESS & TRADE FINANCING INTERNATIONAL AND DOMESTIC TRADE
COURSE OBJECTIVES
- Understand the purpose of Incoterms in trade
- Acquired the understanding of the rules of Incoterms
- Understand the benefit and risk associated with the Incoterms learned
- Able to implement the knowledge gain to activate the right steps when dealing with such rules
- Develop ability to choose the proper Incoterms for delivery
- Understand the risk mitigation process in selling or buying
- Understand basic Letter of Credit and Documentary Collection payment method
- Understand the risk and benefit of Letter of Credit and Documentary collection
- Understand the purpose of Bank Guarantee in International Trade
Outline
COURSE CONTENT
Module 1 Origin of Incoterms and Basic of Trade
- International Chamber of Commerce
- History of Incoterms
- Evolution of Incoterms
- Parties in International Trade
- Cargo title – rights of seller and buyers
Module 2 Principal, Types, Key Differences and Purpose of Incoterms
- Learn about the key principle of Incoterms
- Understand the purpose of Incoterms
- Benefit of Incoterms
- Wrong Usage of Incoterms
- Incoterms for Negotiation
- Incoterms for multi modal transport
- Incoterms for Sea and waterway
- Understanding all the rule for a buyer and seller
- Main differences between Incoterms 2010 versus 2020
Module 3 Understanding Kastam and Good Packaging process and other documents
- Kastam policy in treating import duties and sales tax
- Method of calculating import duties and sales tax
- Kastam form used in Malaysia
- Type of cost to consider when choosing Incoterms
- Packaging for delivery
- Documents required for import and export
- Understand Free Trade Agreement and tariff code
- Certificate of Origin and Bill of Lading
- Understanding EXW, FCA, FOB and FAS Incoterms
- Benefit and Risk with these Incoterms
- Rule of EXW
- Rule of FCA
- Rule of FOB
- Rule of FAS
- Key differences of the Incoterms
- Quiz and Case study
- Understanding CIF, CFR, CIP and CPT
- Benefit and Risk with these Incoterms
- Rule of CIF and CFR
- Rule of CIP and CPT
- Key differences of the Incoterms
- Understanding DAP , DPU and DDP
- Benefit and Risk with these Incoterms
- Rule of DAP
- Rule of new Incoterms DPU
- Rule of DDP
- Key differences of the Incoterms
- Quiz and Case study for session 4
- Understanding EXW, FCA, FOB and FAS Incoterms
Module 4 – Understanding Trade Financing (Letter of Credit, Bank Guarantee and Documentary collection)
- Introduction to Letter of Credit
- Different type of Letter of Credit
- Parties in the Letter of Credit
- Basic Understanding of UCP 600
- Risk of Letter of Credit
- Incoterms rules applicable in Letter of Credit
- Introduction to Documentary Collection
- Documentary against Acceptance versus Payment
- Basic Understanding of UCP522
- Parties in Documentary collection
- Risk of Documentary collection
- Letter of Credit versus Documentary collection, which is riskier
- What is Standby Letter of Credit
- Method of applying Letter of Credit and Documentary collection
- What is SWIFT and how does it affect your trade transaction
- Understand purpose and when to use Bank Guarantee for International Trade
Special Offer
The promotion expiry date for each programmes differs. For more information on the exact expiry date of the promotion, feel free to contact us.
OTC Training Centre Sdn Bhd may at any time in its sole and absolute discretion withdraw, amend and/or alter the terms and conditions of the stated promotions without prior notice.
Schedules
Mon, Tue | 09:00 AM — 05:00 PM |
Platform: Zoom
No. of Days: | 2 |
Total Hours: | 14 |
OTC Training Centre Sdn Bhd is an innovation leader in the development and delivery of practical outsourcing training programs for the past 17 years. Since then, OTC has supported thousands of companies to upskills their employees with personalized content and learning solutions. Today, we have evolved to provide a full suite of outsourcing services in the learning and development field.
Our training programs are entitled to HRDCorp claim, with our trainers being certified by HRDCorp as well. As a training provider, we aspire to keep providing the best training to our respected clients to ensure their satisfaction while using our service as the training provider.