Illustration of EX Works (EXW), which is one of the 11 Incoterms® rules, showing the responsibilities of the buyer and seller.

Understanding Incoterms® Rules

The THORS Understanding Incoterms® Rules course offers a comprehensive understanding of key trade terminologies, the classification and rules detailed in Incoterms® rules 2020, as well as their role in international trade. Ready to take the next step? Explore the course details and see everything we’ve packed into this program!

Learning Hours: 2

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Course Description

The THORS Understanding Incoterms® Rules course introduces learners to the Incoterms® rules 2020 and their role in global trade. Through visually engaging animations and interactive content, the course covers key trade terminology and documents, transportation modes for goods, payment terms, and customs clearance. Learners will also explore the classification of Incoterms rules, understand the rules within each of the four groups while gaining insight into how they govern contracts, transfer risk, direct insurance coverage, and split cost responsibilities in domestic and international transactions.

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Who will benefit from this Incoterms® rules course?

Procurement, logistics, supply chain, international sales, legal, regulatory compliance, finance, and freight forwarding professionals involved in international trade.

Course Classification

This manufacturing course by THORS eLearning Solutions covers identification of key terms, understanding of key concepts, and application of the covered topics.

*THORS uses the Bloom’s Taxonomy Methodology for our course development.

Certificate Awarded for Understanding Incoterms® Rules

Example of certificate awarded upon successful completion of the course.

*upon successful completion

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Learning Objectives

  1. Gain insight into key trade terminologies and understand their significance.
  2. Understand the functions of trade documents, transportation modes and stages, customs clearance, and payment terms.
  3. Learn how Incoterms® rules are categorized based on cost, risk, and responsibility allocation.
  4. Outline E-Group and F-Group, detailing the Incoterms® rules within each.
  5. Describe C-Group and D-Group, along with their respective Incoterms® rules.
Understanding Incoterms® Rules course

Table of Contents

  1. Key Terminologies
    1. Basic Trade Terms
      1. Export
      2. Import
      3. Buyer
      4. Seller
      5. Carriage
      6. Freight
      7. Risk
      8. Delivery
      9. Insurance
    2. Trade Documents
      1. Proforma Invoice
      2. Purchase Order
      3. Sales Confirmation
      4. Commercial Invoice
    3. Transportation Modes
    4. Customs Clearance
    5. Payment Terms
      1. Letter of Credit
      2. Open Account
      3. Advance Payment
      4. Documentary Collection
  2. Classification and Rules
    1. E-Group
    2. F-Group
      1. Free Carrier (FCA)
      2. Free Alongside Ship (FAS)
      3. Free On Board (FOB)
    3. C-Group
      1. Carriage Paid To (CPT)
      2. Carriage and Insurance Paid To (CIP)
      3. Cost and Freight (CFR)
      4. Cost, Insurance, and Freight (CIF)
    4. D-Group
      1. Delivered at Place (DAP)
      2. Delivered at Place Unloaded (DPU)
      3. Delivered Duty Paid (DDP)

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