“Dr. Seyedeh Fatemeh Moghimi”-ICC Iran Commercial Law and Practice Commission Secretary- and Mr. “Mahmoud Rostam-Afshar”-ICC Iran Customs and Trade Facilitation Commission Secretary held 2020 Incoterms online training webinar for 2 days from May 18 to 19 2021.

90 participants including Iranian banking experts, foreign commercial and trade managers and specialists, exporters and importers, companies’ directors, experts of insurance companies and lawyers participated in the above-mentioned webinar.

“Dr. Moghimi” in the introduction of her speech pointed out that, ICC in parallel with development and progress in diverse commercial methods has updated its first published 1936 Incoterms rules and now has published the ninth edition as Incoterms 2020.

The Incoterms rules are the world’s essential terms of trade for the sale of goods. Whether you are filing a purchase order, packaging and labelling a shipment for freight transport, or preparing a certificate of origin at a port, the Incoterms rules are there to guide you. The Incoterms rules provide specific guidance to individuals participating in the import and export of global trade on a daily basis.

“Moghimi” added; “Incoterms rules 2020 include important issues related to transportation of goods, goods security, insurance, bill of lading and transactions made from banking resources. In addition, incoterms rules 2020 describes and explains three important principles as follows in details: Costs, Contractual Obligations, and Transfer of Risk.”

She stated that Incoterms only refers to the duties and responsibilities of the sales contract parties and not related to legal or banking issues.

In the following of above-mentioned issues, Mr. “Mahmoud Rostam-Afshar”-ICC Iran Customs and Trade Facilitation Commission Secretary- described the significant points of incoterms including; incoterms usage, history of incoterms in international trade, incoterms assistance to contract parties, etc. …

He also brought up issues related to concealed costs in implementation of a contract, duties, responsibilities and commitments of buyers and sellers according to incoterms 2020, transportation and incoterms 2020, packing from incoterms view, Incoterms and LC, brief description about  basics and the most important facts, ideas of incoterms and finally, made a comparison with incoterms 2010.

Explaining a few case studies, “Mr. Afshar” described the application of incoterms 2020.

The purpose of holding the above-mentioned webinar was incoterms 2020 practical training in different dimensions of the sales contract and arranging a set of workshops leveraging learning-by-doing method.

Meanwhile, making a clear and complete understanding of the selection mechanisms of incoterms 2020 fundamentals and consequences arising from this selection in payment methods, accounting operations, customs, insurance, transportation and legal documents were the other objectives of the 2020 incoterms online training webinar.