The Incoterms or International Commercial Terms are a series of pre-defined commercial terms published by the International Chamber of Commerce (ICC) since 1923. The Incoterms are however not law as they are a set of standard international trade rules for trading which parties can choose to incorporate into their trade contract.
The webinar held on 9 September 2020 was timely, as it looked at the ninth edition of the Incoterms introduced on 1 January 2020.
The session was chaired by Rebecca Andersen (General Manager, Head of Legal & Compliance of Hengyi, and a Council Member of SIArb) and the distinguished speaker was Adam Richardson, a partner from HFW specialising in Commodities Trading and Shipping.
Adam gave a thorough review of the key changes in the latest version of the Incoterms, what the Incoterms do (and do not do) and common pitfalls encountered in practice.
Adam’s presentation was followed by a Q&A and discussion session skilfully moderated by the sharp Rebecca Andersen. She discussed real-life situation and exchanged intelligent views with Adam. The audience raised a number of challenging questions which Adam gamely answered in an engaging manner. Overall, the event received very positive responses from the audience.
The CPD programme continues online over the coming months: members can find details of our webinars planned on the website.
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Reported by:
Rebecca Andersen - Hengyi Industries International Pte. Ltd