Incoterm 2010
INCOTERMS 2010
Lecturer : Bui Thanh Trang, Ph.D
INCOTERMS 2010
• • • • What are Incoterms? What is purpose of Incoterms? Scope of Incoterms? Structure of Incoterms?
What are INCOTERMS?
A set of rules for the interpretation of trade terms, in a contract of sale.
ICC official rules for the interpretation of the trade terms INCOTERNS 1936 is first published by ICC, amendments and additions were made in 1953, 1967, 1976, 1980 , 1990, 2000 and 2010.
I. PURPOSE OF INCOTERMS
Determining obligations of the seller and buyer : Costs and expenses Risks for the transportation of goods from the seller’s premises to the buyer’s place
Setting up exporting price for term of sale. Eliminating uncertainties and different interpretations of trade terms.
SCOPE OF INCOTERMS
Do not deal with: Transfer of ownership and other property right
The consequences of breach of contract, and any exemptions from liability owing to various impediments.
1. General obligations of the seller
2. Licences and formalities
3. Contract of carriage and insurance
4. Delivery
Seller’s Obligations
5. Transfer of risks
6. Division of costs
7. Notice to the buyer 8. Proof of delivery, transport document 9. Checking- Packaging -Marking 10. Assistance with information and related costs
1. General obligations of the buyer
2. Licences and formalities
3. Contract of carriage and insurance
4. Taking delivery
Buyer’s Obligations 5. Transfer of risks
6. Division of costs
7. Notice to seller 8. Proof of taking delivery, transport document 9. Inspection of goods 10. Assistance with information and related costs
AN INCOTERM IS A 3 LETTERS WORD FOLLOWED BY A NAME OF PLACE... EXW: Ex Work (….name place)
The structure of INCOTERMS 2000
4 GROUPS OF TERMS
AN INCOTERM IS A 3 LETTERS WORD FOLLOWED BY A NAME OF PLACE...
GROUP E : Departure EXW Ex Works (… named place)
GROUP F : Main Carriage Unpaid
FCA Free Carrier (… named
Lecturer : Bui Thanh Trang, Ph.D
INCOTERMS 2010
• • • • What are Incoterms? What is purpose of Incoterms? Scope of Incoterms? Structure of Incoterms?
What are INCOTERMS?
A set of rules for the interpretation of trade terms, in a contract of sale.
ICC official rules for the interpretation of the trade terms INCOTERNS 1936 is first published by ICC, amendments and additions were made in 1953, 1967, 1976, 1980 , 1990, 2000 and 2010.
I. PURPOSE OF INCOTERMS
Determining obligations of the seller and buyer : Costs and expenses Risks for the transportation of goods from the seller’s premises to the buyer’s place
Setting up exporting price for term of sale. Eliminating uncertainties and different interpretations of trade terms.
SCOPE OF INCOTERMS
Do not deal with: Transfer of ownership and other property right
The consequences of breach of contract, and any exemptions from liability owing to various impediments.
1. General obligations of the seller
2. Licences and formalities
3. Contract of carriage and insurance
4. Delivery
Seller’s Obligations
5. Transfer of risks
6. Division of costs
7. Notice to the buyer 8. Proof of delivery, transport document 9. Checking- Packaging -Marking 10. Assistance with information and related costs
1. General obligations of the buyer
2. Licences and formalities
3. Contract of carriage and insurance
4. Taking delivery
Buyer’s Obligations 5. Transfer of risks
6. Division of costs
7. Notice to seller 8. Proof of taking delivery, transport document 9. Inspection of goods 10. Assistance with information and related costs
AN INCOTERM IS A 3 LETTERS WORD FOLLOWED BY A NAME OF PLACE... EXW: Ex Work (….name place)
The structure of INCOTERMS 2000
4 GROUPS OF TERMS
AN INCOTERM IS A 3 LETTERS WORD FOLLOWED BY A NAME OF PLACE...
GROUP E : Departure EXW Ex Works (… named place)
GROUP F : Main Carriage Unpaid
FCA Free Carrier (… named