Wed | Dec 6, 2023

SAJ to host International Commercial Terms workshop

Published:Tuesday | November 7, 2023 | 12:06 AM

The Shipping Association of Jamaica (SAJ) will host a two-day virtual workshop that delves into the intricacies of International Commercial Terms, commonly known as Incoterms, on November 21 and November 23.

This workshop, offered in collaboration with the Caribbean Maritime University, is designed to provide people who work in imports and exports with the essential skills to navigate the complex world of international trade.

The course will equip participants with a deep understanding and appreciation of the International Chamber of Commerce’s (ICC) Incoterms 2020 and empower them to make informed decisions in their international transactions.

By the end of the workshop, attendees will gain a comprehensive understanding of various Incoterms and their applications; learn to choose the most appropriate Incoterms for different aspects of international trade, including freight management, payment processing, insurance, and tax considerations; grasp ICC rules that govern the movement of goods and the risks involved in international trade; and become skilled at selecting the correct Incoterms that align with their unique international transactions.

Participants will engage in a comprehensive exploration of the pivotal role played by Incoterms in international trade. These terms are not just abstract concepts but have real-world significance in both export sales and import purchases.

One of the key objectives of the workshop is to empower attendees to tailor Incoterms to their specific transactions. Therefore, participants will learn how to assess their unique trade scenarios and select the most suitable Incoterm to align with their needs. This approach can lead to more efficient and cost-effective international trade practices.

Importantly, the workshop will address the benefits and potential risks associated with different Incoterms. Understanding the potential risks is crucial for risk management in international transactions, ensuring smoother and more secure operations.

The virtual workshop will see participants engage in comprehensive discussions, practical examples, and interactive learning experiences. This immersive programme is designed to equip attendees with the knowledge and expertise needed to confidently navigate the difficulties of international trade.

By mastering Incoterms, participants will gain a competitive edge and enhance their ability to conduct smoother and more successful international transactions.

For further information and registration details, please contact pallen@jamports.com.