Fundamentals of Incoterms - International Commercial Terms | Alison
Loading

Fundamentals of Incoterms

Learn about the importance of Incoterms in the procurement process and gain an understanding of the roles of buyers.

Supply Chain Management
Free Course
This free online Incoterms course by the Procurement Academy, an institute dedicated to training procurement professionals, will introduce you to the fundamentals of Incoterms. You will get an overview of what it is about and learn about its objectives. You will study its definitions and classification, and its usefulness to procurement professionals. You will also learn about the role of the buyer during the supplier selection process, and more.

Description

Modules

Outcome

Certification

View course modules

Description

This course begins with an overview of Incoterms. The word Incoterms is derived from International Commercial Terms, a series of three-letter terms related to common sales practices published by the International Chamber of Commerce (ICC). It is a set of rules that describes the responsibilities of both sellers and buyers for the delivery of goods that are under sales contracts. They are published by the International Chamber of Commerce (ICC) and are widely used in commercial transactions.

You will then learn the importance of Incoterms for buyers and sellers. This course will discuss the importance of trading goods and teach you the responsibilities of traders. You will learn that Incoterms helps in reducing misunderstandings among buyers and sellers thereby minimizing trade disputes and litigation. You will also learn how to select the best terms for the delivery, manage costs, and handle risks. In addition, you will look into the 11 Incoterms.

The main aim of Incoterms is to define the tasks, costs, and risks associated with the transportation and delivery of products and goods. Upon the completion of this course, you will gain a better understanding of its definition and classifications, the details of the 11 Incoterms, the role of buyers, and much more! Sign up of this course today and learn more about Incoterms and its use in the procurement process. 

Start Course Now

Learning Outcomes

Learning outcomes: - List and define Incoterms; - Describe the classification of Incoterms; - Explain the use of Incoterms in the procurement process.

Certification

All Alison courses are free to enrol, study and complete. To successfully complete this Certificate course and become an Alison Graduate, you need to achieve 80% or higher in each course assessment. Once you have completed this Certificate course, you have the option to acquire an official Certificate, which is a great way to share your achievement with the world. Your Alison Certificate is:

Ideal for sharing with potential employers - include it in your CV, professional social media profiles and job applications
An indication of your commitment to continuously learn, upskill and achieve high results
An incentive for you to continue empowering yourself through lifelong learning

Alison offers 3 types of Certificates for completed Certificate courses:

Digital Certificate - a downloadable Certificate in PDF format, immediately available to you when you complete your purchase
Certificate - a physical version of your officially branded and security-marked Certificate, posted to you with FREE shipping
Framed Certificate - a physical version of your officially branded and security-marked Certificate in a stylish frame, posted to you with FREE shipping

All Certificates are available to purchase through the Alison Shop. For more information on purchasing Alison Certificates, please visit our FAQs. If you decide not to purchase your Alison Certificate, you can still demonstrate your achievement by sharing your Learner Record or Learner Achievement Verification, both of which are accessible from your Dashboard. For more details on our Certificate pricing, please visit our Pricing Page.

Careers

    Notification

    You have received a new notification

    Click here to view them all