NCBFAA Webinar: Simplifying Incoterms with Magnolia Global Trade Solutions
Title: Simplifying Incoterms with Magnolia Global Trade Solutions
Credits: 1 CEU LCB/ CCS/CES
Thursday, December 9th from 1-2PM ET
Register here: https://attendee.gotowebinar.com/register/8603687734274668888
Understanding and correctly applying Incoterms is essential to managing global trade risk, cost, and responsibility. In this session, “Simplifying Incoterms,” Bonnie Kersch of Magnolia Global Trade Solutions breaks down the complexity of Incoterms into practical, easy-to-understand concepts. The presentation begins with an overview of what Incoterms are and why they matter, then explores each rule individually, clarifying the obligations of buyers and sellers under each term. Attendees will learn how to determine which Incoterm best fits different transaction scenarios and how to apply them effectively to avoid costly misunderstandings in contracts, logistics, and customs compliance
By the end of this session, you will be able to:
- Explain the purpose and structure of Incoterms and their role in international trade contracts.
- Differentiate between the various Incoterms and identify the key responsibilities of buyers and sellers under each.
- Determine which Incoterm is most appropriate for a given transaction based on factors such as mode of transport, risk transfer, and costs.
- Apply Incoterms correctly in commercial documents, including purchase orders, sales contracts, and shipping documentation.
- Recognize common mistakes and misconceptions in the use of Incoterms that can lead to disputes or compliance issues.
- Develop practical strategies for training teams and standardizing the use of Incoterms within their organizations.
