When drawing up sales agreements for international freight shipments, it’s important to decide on the appropriate title transfer, followed by the correct incoterm for the title transfer.
This microlearning course from DeltaNet International explains in a user-friendly and succinct manner everything your employees need to know about title transfers and incoterms. It will ensure staff are familiar with terms used by Customs and help ensure smooth delivery or receipt of items.
It is an engaging exploration of the processes behind transferring ownership of goods from seller to buyer. The responsibilities of both parties will vary depending on the incoterms chosen, so it’s important for everybody involved in importing and exporting goods to know about them.
The Title Transfers and Incoterms short course is an engaging exploration of the processes behind transferring ownership of goods from seller to buyer. The responsibilities of both parties will vary depending on the incoterms chosen, so it’s important for everybody involved in importing and exporting goods to know about them.
The Title Transfers and Incoterms short course is an engaging exploration of the processes behind transferring ownership of goods from seller to buyer. The responsibilities of both parties will vary depending on the incoterms chosen, so it’s important for everybody involved in importing and exporting goods to know about them.
Learners are assessed through a series of multiple-choice questions relating to the course content. On successful completion of the course, learners will be able to download a certificate of achievement.
| Number of Learners | Cost (per year) | |
|---|---|---|
| 1 - 10 | ||
| 11 - 20 | ||
| 21 - 50 | ||
| 51 - 100 | ||
| 101 - 150 | ||
| 150+ | ||
| Number of Learners | Cost (per year) | |
|---|---|---|
| 50 - 100 | ||
| 101 - 200 | ||
| 201 - 300 | ||
| 301 - 400 | ||
| 401 - 500 | ||
| 501 - 750 | ||
| 751 - 1000 | ||
| 1001 - 2500 | ||
| 2501 - 5000 | ||
| 5000 - 10,000 | ||
| 10,000 + | ||
Included Features
A sale cannot take place without a title transfer, which is a change in the possession of goods (from the seller to the buyer). The title of ownership transfers from the seller to the buyer according to the terms agreed in the contract, e,g., once payment has been received.
Incoterms are a set of international-commercial terms that are used in international freight shipment contracts. They are used to define the responsibilities of the buyer and seller relating to the movement of goods internationally, e.g., who pays for shipment and tax.
Training in these concepts is important. It makes it less likely a mistake will be made and more likely that the transfer of goods will be smooth and successful.
The two types of transfer that take place are transfer of costs and transfer of risk. The responsibilities for the goods transfers to the buyer from the seller. The time of transfer is clearly defined because if there are any issues with the import/export process, responsibility must fall clearly with one or the other.
Incoterms are used to reduce confusion between buyers and sellers about when responsibility for a shipment passes to the buyer. As they are internationally recognised, they are designed to be understood by everyone in the import and export business. Their use makes it clear what is the buyer’s responsibility, and what is the seller’s responsibility.
A title transfer refers to the moment in time, and in the export/import process, that a shipment and the goods within it passes from the buyer to the seller. Depending on the nature of the transaction and the agreement drawn up beforehand, this can happen at any point from leaving the seller’s premises to arrival at the client’s.
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