Incoterms® 2020 Certificate (INCO)

By the end of the lesson you will:

• Know the specific changes included in the 2020 edition and clearly understand the differences to the 2010 edition. All the major changes are clearly explained, one by one.
• Understand the duties owed by sellers and buyers, including the risks/costs involved and how these are split between ‘A’ and ‘B’ articles.
• Know how to properly add an Incoterms® rule to a sales contract.

By the end of the lesson you will be able to:

• Identify the fundamental commercial purposes of each rule.
• Distinguish the basic buyer/seller obligations for each rule.
• Select which rule would be best for a particular transaction.
• Assess the risks involved when using the wrong rule for your transaction.

By the end of the lesson you will:

• Have a thorough understanding of the structure of the new Incoterms® 2020 rules for all 10 articles. This includes the A2/B2 article that deals with the most critical obligation within the Incoterms® 2020 rules, the point at which the seller “delivers” the goods to the buyer
• Be able to classify the rules based on how each deal with aspects of a transaction.
• Be able to identify, almost intuitively, which Incoterms® rule will achieve your specific objectives.

These lessons will be the most challenging but also the most rewarding, as it will require you to think laterally across the eleven Incoterms® rules, thus establishing a firm grasp of the practical differences between them.

Even with a greater understanding of the Incoterms® rules, there will be times when you want to clarify which rule is best for your transaction. Our new digital comparison matrix tool is designed to help you do just that.

It helps you easily compare the obligations for different rules side-by-side and quickly see which one best fits your needs. This is designed as a shortcut and a safeguard when you don’t want to have to trawl back through all your notes.

In this section we examine three case studies’ that outline different international trade scenarios and relationships between the buyer (importer) and seller (exporter). You will then be asked to answer related questions that are designed to test your understanding of the rules (based on what you have learned in the other lessons) from a more practical perspective.

In this lesson we will help you prepare for the final exam with some more assessment questions that recap what you have learned in the previous six lessons. Once you have scored 80% or above on all the course practice assessment questions you will be able to move on to the next stage, the final exam.

In order to receive the official ICC Academy certificate for this programme you will need to sit and pass our final exam.

To uphold the integrity and credibility of this certificate all our exams are live proctored via the internet. This ensures there is no outside interference and that your achievement carries more weight and respect. It also means you do not need to leave your home to take the exam – all you need is a reliable internet connection!