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Overview

Course Date:

TBA

Registration Period:

TBA

Duration/Frequency:

14 hours | 9am to 5pm

Mode of Training:

Classroom

What You Will Learn

This course will develop and extend your knowledge of the contractual terms in details and how to apply them in a practical manner. You will learn how to use the terms to your advantage. You will also understand the rights and obligations of the buyer and seller. This course will show you how usage of contractual terms can be a powerful tool in your international business dealing.

Topics to be covered

1. Basic Law of Contract

What is a valid contract?
Conditions for offer and acceptance
Vitiating elements in a contract
What constitute a breach of contract?

2. Incoterms 2020

Meaning of EXW, FCA, FOB, CFR, CIF, etc
Understanding the obligations of buyer and seller
Incorporation of the trade terms into contract

3. Shipping Documents

Understanding B/L and AWB and its implications
Operation of invoice and packing list
Certificate of origin and inspection

4. Payment Conditions

Open account and advance payment
Applications of DA and DP
Step-by-Step operation of L/C
Irrevocable L/C

5. Understanding UN-CISG

Scope of application
How a contract is formed?
Rules concerning the Sales of goods
Remedies of buyer and seller

6. ICC contract model

Specific and general condition of the contract
Meaning of title and limitations of liability
How disputes are settled in international trade
How to apply the Force majeure clause