Impact of Incoterms 2020 on Letter of Credit Transactions

Impact of Incoterms 2020 on Letter of Credit Transactions


  • What Incoterms 2020 do and do not do, how best to incorporate incoterm rules?
  • Difference between place of delivery and place of destination, significance of place of delivery in identifying the transfer of ris
  • Clear understanding of all the 11 Incoterms and Rules; comparison of 2010 and 2020
  • Impact of changing the rules for our convenience
  • Impact of Incoterms in Letter of Credit (LC) transaction.

Session 1:
  • Significance of terms and conditions in underlying commercial contract
  • Terms of delivery and INCOTERMS 2020
  • What Incoterms Rules do
  • What Incoterms Rules do not do
  • Significance of place of delivery in determining cost of delivery and transference of risk from seller to buyer
  • Consistency between Contract of Sale – Letter of Credit - Contract of Carriage – Contract of Insurance and the Reference of Incoterms
  • Eleven Incoterms 2020 Rules
  • Detailed discussion on each Incoterm 2020
  • EXW/FCA/FAS/FOB/CFR/CIF CPT/CIP/DAP/DPU/DDP

Session 2:
  • General obligation of seller and buyer
  • Significance of place of delivery / port of loading and place of destination / port of discharge with specific reference to Incoterms 2020
  • Transfer of risk from seller to buyer at which point
  • Differences between Incoterms 2010 and 2020
  • Possible deviations from applicable Rules and its impact
  • Prescribing appropriate documents with specific reference LC transaction and the Incoterms 2020
  • Comprehensive quiz relating to Incoterms 2020

It is delightfully ironic that a banker with the capacity to accurately predict global financial turmoil can be so much at peace in life, and trust fate as much! Very few things seem to have the capacity to surprise him. His patience plays an instrumental role when he covers a subject as complicated; and his unique method of imparting knowledge makes it interactive and come alive.
Shyam Gyanani
Director
Trident International Pvt. Ltd.

  • Heads of Finance, Export and Import Trade, International Business
  • Managers in Finance, Logistics, Marketing, Procurement, Sourcing departments
  • Importers, Bankers

  • 6 hours
  • 1 days of 6 hours (in class)
  • 3 sessions of 2 hours (online)
  • K. Parameswaran, Post graduate in Foreign Trade and Certified Associate of Indian Institute of Bankers (CAIIB), with more than 30 years of work experience with various national and multinational banks at senior managerial positions
  • Associated with the BAFT (Washington), Confederation of Indian Industries, Federation of Indian Exporters Organisation, International Chamber of Commerce (ICC Paris) India.
  • Nominee to Banking and Finance Commission, ICC Paris,
  • One of the ICC Paris certified trainer on INCOTERMS 2020
  • Advisor and trainer for corporates, visiting faculty at various management schools