online event
Don't let your food and drink perish at the border: how to choose the payment terms and Incoterms that are right for you
Understanding Incoterms can reduce shipping disputes by up to 30%, and using secure payment terms can decrease the risk of non-payment by 50%. Find out how to choose which Incoterms are relevant to food and drink producers, and how to get paid for selling your goods across the globe.
What you’ll learn
- gain detailed knowledge of the 11 Incoterms 2020 rules, their application in international trade, and how they define the responsibilities of buyers and sellers;
- learn about various international trade payment methods such as letters of credit, documentary collections, and open accounts;
- develop strategies to mitigate risks associated with international transactions, including currency fluctuations, non-payment, and compliance with trade regulations.
Description
If you are in the food and drink sector and looking to expand your business into international markets, its essential that you have a good grasp of which Incoterms apply to your goods when shippping them to international clients. Incoterms are crucial to ensuring smooth transactions between you and your client, as these terms outline the responsibilities involved in the sale of goods.
In this session, we'll be covering which Incoterms may apply specifically to food and drink goods, helping you to choose the right one for your smooth and profitable international trade activity.
Getting paid for your overseas transactions is the most important part of trading overseas - there are different methods that you can use, that we will also cover in this session, so you can understand how to ensure timely and secure payments for your food and drink exports.
Speakers
Roger Marshall
Trade and Customs Specialist, The Institute of Export & International Trade
Roger Marshall has been involved in international trade for over 40 years. After spending 5 years with Sainsbury's in the buying department, where he worked on importing animal products from New Zealand and Denmark, he spent 13 years working for one of Japan's largest trading companies.
As such, he has been involved in trading a variety of different commodities, ranging from Russian timber to rare earth critical minerals. He has also been involved in the financing and development of electronics production in Eastern Europe and has helped to build up trade in consumer electronics to major UK & European retailers.