What's On

Incoterms are the common trade terms applicable to international trade, which clearly define the obligations of buyers and sellers in the sales contract. Incoterms 2020 officially launched on 1 January 2020 comprise 11 trade terms. This workshop is suitable for employees engaging in purchasing, shipping and logistics, accounting and finance, and sales and marketing departments to join, allowing them to learn about how the latest version may affect their operations.

Course outline:
1. Compare the major differences between Incoterms 2010 and 2020.
2. How can the seller meet the requirement of an on-board bill of lading under the FCA?
3. What are the differences in the level of insurance covered in the CIP and CIF?
4. When there is no third party carrier involved which is very common in China, can we arrange carriage with the seller's or buyer's means of transport in the FCA, DAP, DPU, and DDP?
5. What are the differences between "transfer of responsibility" and "transfer of ownership"? How do they relate to Incoterms?
6. Elaborate the 11 trade terms in Incoterms 2020, and explain the relationship between the trade terms and the transport modes.
7. Discuss each trade term with diagram illustrations and propose the most appropriate one to meet the commercial requirement in terms of risk transfer, costs obligation, and insurance arrangement. The following trade terms will be compared:
   - EXW vs. FCA
   - CPT vs. DAP vs. DPU
   - FOB vs. FAS
   - DDP vs. LDP
8. If a carrier goes bankrupt and fails to deliver the products, who should bear the related risks and consequences? Should the importer fulfill the payment obligations in this circumstance? How do Incoterms help fix the responsibility of each party?
9. If a buyer is required to pick up goods from the seller's warehouse according to the EXW, common issues found by the seller may include missing export declaration and incorrect information on export manifested by the buyer. Are there any solutions to fix these issues?
10. Explain the common misunderstandings and errors involved in the usage of Incoterms.
11. What are the interpretations of "place of delivery" and "final destination" in Incoterms 2020? Discuss the importance of their explanations in the C group.

Speaker(s) Irene Poon (DBA, MBus, BBus, CMILT, MHKIE, MIPSHK)
Irene is a logistics professional with over 20 years' experience in shipping and letter of credit operation for multi-national companies. Her clients include P&G, Nestle, Cadbury, Philips, General Electric and McDonald's. Irene is a "Certified Logistician Trainer" and a "Certified Trainer of ITC International Purchasing and Supply Management". She is also a member of the Chartered Institute of Logistics and Transport in Hong Kong ("CMILT") and the Hong Kong Institution of Engineers in Logistics and Transport ("MHKIE").
Language Cantonese
Date and Time 2020/04/28 14:30 to 17:30
Venue Chamber Theatre, 22/F United Centre
Media Closed to media
Enquiries Cathy Chan
Tel: 28231282
Fee Members @ HK$850 / Non-Members @ HK$1,050
+$50 for booking offline
This event accepts Chamber Coupon (terms and conditions)
Members enjoy 30% discount with BOC HKGCC VISA Card
Notes - Bookings are only confirmed upon receipt of payment, on a first come first served basis.
- Booking transfer is allowed for corporate members with advanced notice, walk-ins are normally not accepted.
- The Chamber reserves the right to decline any booking or cancel the event. In such case, a full refund of the participation fee will be issued.
- No refund will be made for last minute cancellations or no-shows. If the booking is cancelled at least 7 days before the event, and in such cases the refund will be subjected to a 10% administration fee, or HK$100 deduction, whichever is higher.
- Members paying with their BOC HKGCC Visa Card will enjoy a 30% discount on their reservation. The discount is only applicable to the card holder, and does not extend to their guests. The discount cannot be used in conjunction with Chamber Coupons.
- A $50 handling fee per person will be charged for all offline bookings (e.g. fax, e-mail, post) for all Chamber events. Go online today by downloading our app or registering on the HKGCC website to save the environment and money.
- Priority is given to corporate members. The decision to accept or decline any booking shall be at sole discretion of the Chamber.
- Participants agree to indemnify the Chamber and the hosting party all liabilities for property damage, physical injury or death in relation to this event. Participants are advised to take their own insurance against all risks.