The importance of Incoterms® cannot be underestimated.. While there are several discussions, articles, and other materials on the Internet, there are also several vague, incorrect, and inaccurate material on the internet.. If you want the correct and accurate information on Incoterms and understand Incoterms, then I recommend the discussions and articles from Bob Ronai..
Bob Ronai is one of the experts invited by the International Chamber of Commerce to be a member of their Incoterms® Drafting Group to draft the new Incoterms 2020.. On this site, I have shared a couple of articles that are short explanations of various matters critical to understanding and using the Incoterms® 2020 rules in the real world of trade based on various questions he has received about the correct application of the rules..
Bob has now created a video series called “Really understanding Incoterms® 2020“..
- Lesson 1 will be an “Introduction to the series and Incoterms®”
- Lesson 2 will introduce the format of the book itself. Each of the eleven rules is made up of ten articles of obligation for the seller and ten for the buyer. Some of these are identical, and some are similar, across all the rules so these are explained in this lesson.
- Lesson 3 will then launch into the complexities of EXW Ex Works, lessons 4 and 5 will explain FCA Free Carrier (yes there is so much to discuss that it needs two lessons), the same with CPT and CIP in lessons 6 and 7, and so on through the other rules.
Bob has been mindful to keep each lesson between 12 to 15 minutes, keeping them compact so that you can watch them whenever convenient, in your lunch break, while commuting, at home or in the office, wherever and whenever you like..
Bob has invited comments and questions are invited for each lesson, and in due course there will be some Q&A sessions too..
So, if you really want to understand the Incoterms 2020 rules, what they say, how they work and don’t work in the real world of day-to-day transactions, and how to make them work for you, this is the series to watch..