Incoterms, widely-used terms of sale, are a set of 11 internationally recognized rules which define the responsibilities of sellers and buyers. Incoterms specify who is responsible for paying for and managing the shipment, insurance, documentation, customs clearance, and other logistical activities. This course will provide a step by step explanation on the 11 incoterms introduced by the ICC in its latest edition called Incoterms @2020 which came into effect on 1.1.2020. and how to apply these terms to international trade in general and Malaysian Customs in particular.
Brochure
— Course Fee: RM 790.00 (Inclusive of 8% Service Tax) —
Understanding of each term
- EX WORKS (EXW)
- CARRIAGE PAID TO (CPT)
- CARRIAGE AND INSURANCE PAID TO (CIP)
- DELIVERED AT PLACE UNLOADED (DPU) REPLACED —DELIVERED AT TERMINAL (DAT)
- DELIVERED AT PLACE (DAP)
- DELIVERED DUTY PAID (DDP)
- FREE ALONGSIDE SHIP (FAS)
- FREE ON BOARD (FOB)
- COST AND FREIGHT (CFR)
- COST, INSURANCE AND FREIGHT (CIF)
- FREE CARRIER (FCA)
Incoterms in relation to Malaysian Customs import and export
- Choice of correct Incoterm on Customs Import declaration
- Choice of correct Incoterm on Customs Export declaration
- How Incoterms affect Customs Valuation and tips to overcome incorrect declaration .