International Commercial Terms, or Incoterms®, are commercial terms or rules that define the seller’s and buyer’s responsibilities for the delivery of goods under a sales contract. They are published by the International Chamber of Commerce (ICC).
Incoterms® are widely used in commercial transactions but often ignored until they are needed. Usually they are incorrectly used and in some cases taken for granted until a shipment goes wrong and the parties need to refer to the terms under the contract.
The purpose of this course is to provide general knowledge on Incoterms® as it pertains to the overall function of an international transaction. Each lesson is designed to focus on the different components of the Incoterms® for a well rounded awareness of the terminology and why it is important to properly evaluate and choose the correct rule for any given transaction. This course can serve as a primer for those looking to take any of the in-depth Incoterms® courses offered by Global Training Center or for those just entering global trade.
This course is made up of a total of 6 lessons. Each lesson contains a video and a review that will need to be completed to proceed to the next section. Lessons may not be taken out of order. When all lessons are completed, there is a final exam to test your knowledge. When you pass the exam you will be awarded a certificate of completion along with a digital badge to display on your profile and share with the community.