Incoterms 2020 Rules – Level 1
Global Training Center
3.5 Hour course
Level 1 Badge is awarded when the course has been completed and attendance has been verified.
Completion of this course will provide a complete understanding of the “terms of sale” for international transactions. Incoterms® – an acronym for International Commercial Terms – are the rules first issued by the International Chamber of Commerce (ICC) in 1936 as a way of unifying the shipping practices and legal interpretations between countries involved in global trade. Terms are now upgraded every ten years, giving countries the most current definition of the responsibilities and obligations of international sellers and buyers for the delivery of goods under both international and domestic sales contracts. Incorrect use of Incoterms® may cause delays and additional costs if misinterpreted, e.g., critical comprehension of which party is responsible for transportation, insurance, reporting the transaction to customs, transit security, and much more. The Incoterms® 2020 course, is excellent for those just beginning in international trade and as a refresher for experienced professionals.