Incoterms: Minimize Your Supply Chain Risk

5 CMUs

Presenter: Laurie Turnbull, MSc, CCLP - Professor of Global Supply Chain Management, Conestoga College Institute of Technology and Advanced Learning

Air Date: May 4, 2022 - 12:00 PM ET

This very popular annual webinar returns for 2022 to walk attendees through the must-know essentials of one of the most misunderstood aspects of international trade. 

Developed by the International Chamber of Commerce, Incoterms® are recognized worldwide as international ‘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. A recent survey of Canadian organizations revealed that 87% of companies selecting an Incoterm for containerized shipments were selecting the wrong term. And an earlier study involving 1,000 international freight forwarders showed that almost 50% of forwarders were using Incoterms inappropriately when shipping goods in ocean containers.

This webinar examines the merits of each of the eleven terms in Incoterms 2020, including the transfer points for cost (i.e. freight, insurance and customs formalities), and risk. We 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.

By viewing 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
  • A better understanding of which Incoterms are most appropriate for different modes of transport
  • Knowledge of who pays for what costs associated with each Incoterm
  • Differences between Incoterms 2010 and Incoterms 2020
  • Peace of mind knowing you’ve protected your company’s interests, and yours

 

 

Interested in learning more about this subject? Register for FOB vs Incoterms, running May 11, 2022!

 

About the facilitator:

Laurie Turnbull, CCLP

Laurie Turnbull, MSc, CCLP
Professor of Global Supply Chain Management
Conestoga College Institute of Technology and Advanced Learning

In addition to teaching full-time as a Professor in the School of Business at Conestoga College, Laurie has an extensive background in supply chain management including 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 was awarded the CITT Award of Excellence in 2014, 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.