Learn From The Best
Mr. Stephen Kum (MBA, USA) is a fellow of The Institute of Freight Association, The Institute of Logistics & Transport, The Institute of Business Administration. Former Vice Chairman of the Persatuan Logistik Selangor and co-founder of Global Logistician Network.
He has more than 30 years of hands-on experience in the fields of international trade, global procurement, freight operation, logistics and supply chain management. His consultancy expertise relates to Incoterms execution, trade documentation, suppliers development, shipping risks and export strategies.
He was the Managing Director of a global logistics provider with network in UK, USA and Australiasia. Held various contractual senior positions as Country Manager of Esprit Shipping (HK), Sales Director with Karl Schroff Associates (US) and Business Development Manager with Port Cargo International (UK). Associated with Cambridge International College as their Training Consultant, Program Examiner with Durham Logistics College and Resident Consultant with TPL Global Chains Management.
He has been involved in corporate training and executives development since 2002 for national corporation ( DRB,TNB, MAHB, etc) multinational companies (Mitsubishi Corp, British American Tobacco, Alstom Power, etc) market leaders (Goodyear, Hitachi, Siemens, etc) academy of learning and development (OCBC Trade Academy, Boustead Naval Academy, etc). His embassy clientele includes trade divisions of Nigerian Embassy, Sudan Embassy and Royal Thai Embassy in Kuala Lumpur. He has developed Shipping programs for Institute Technology Multimedia, Logistics program for Sentral City Institute, Freight management program for PSNB and Open University Malaysia. Developed post graduate courses in Supply Chain Management for Camden University and Export Management for Metropolitan University organized from Kuala Lumpur.
MANAGING INCOTERMS 2020 (ICC) IN IMPORT EXPORT MANAGEMENT
30 June 2021
The International Commercial Terms (ICC 2020) rulings are to be used in the contract of sale of goods effective in the year 2020. Highlights being the change of name in DAT to DPU (Deliver to place unloaded). Additional important obligations in FCA, CIP, CIF, DAP, DDP and resolutions on cyber security-related matters and insurance.
The contemporary business landscape changes has created a proliferation of additional trading risks and costs across the borderless territories. In these crucial risk gaps, proper understanding and application of Incoterms would contribute to a viable contingency plan in and out of the distribution chain. A stronger defensive resolution is in place against all contractual disputes and costly mistakes.
Overview of Incoterms implied undertakings and dispute factors :
The 4D’s of Define, Design, Detect, Defend in planning stage
The 4C’s of Carriage, Customs, contracts, Control in the chain
The 4T’s transaction terms of Payment, Sales, Delivery, Title
Understanding the contractual and volatile scope of Incoterms :
The responsibilities and obligations of the seller and buyer
The division and diversion of the costs and risks factors
The closure of the supply and delivery contractual gaps
Familiarizing the major terminologies of Incoterms and shipping :
Carrier and Shipper in the contractual implication
Delivery and Obligation of seller and buyer context
Packaging and Packing requirement in shipping
Categorizing the main grouping of the 11 Incoterms usage :
By sea and water-way transport versus other transport modes
By other obligatory modes with cargo unloaded at destination
By other delivery options at arrival with customs clearance
Positioning the aggregate terms into Air, Sea, Ground execution :
The terms and ruling of CIF, CFR, CIP, CPT
The terms and ruling of EXW, FOB, FCA, FAS
The terms and ruling of DPU, DAP, DDP
Plotting the costs and risks lines between seller and buyer :
The positioning of the port, point, place and premise
The allocation of the first carrier and forwarders nomination
The interpretation of port to port and door to door delivery
The rulings applied to the String Sales transaction :
Understanding the security threats and mitigation
Understanding the preservation of cargo inherent nature
Understanding the fulfillment of ownership transfer.
The ruling of control and compliance factors provisions :
The contract of insurance and carriage executedr
The transfer of risks and allocation of costs required
The tendering and terminating of delivery obligated
Negotiation competency between principals and related parties :
Preparation stages of negotiation between seller and buyer
Documentation requirement for transactional fulfillment
Finalization of agreed contracted terms and conditions
Logistics efficiency and effectiveness in the execution chain :
Logistics planning criteria at pre-departure stage
Logistics monitoring method at in-conveyance stage
Logistics reporting style at post-arrival stage
Incoterms 2020 rulings and resolutions :
Demarcation and substitution of the Sale Contract
Renaming DAT to DPU (delivered at place unloaded)
Application of the shipping terms On Board in FCA
Application of the shipping VGM under the SOLAS
Listing of all costs related to sale of goods sold
Specification of the ICC marine cargo clause in CIF,CIP
Provision of information in cyber security-related areas
Arrangement of own transport in FCA,DPU,DAP,DDP
Precaution guidelines on Incoterms Do’s and Don’t’s
Who Should Attend
A mandatory and competency course for Managers, Executives in the department of Finance, Costing, Planning, Logistics, Shipping, Procurement, Marketing.
A seminar based workshop with assignments and group interactive activities. Reinforcement of learning points from case reference.
After Attending, You Will Return To Your Job
Understanding the provisions and resolutions of Incoterms 2020
Learning the contractual and operational constraints of Incoterms
Managing the risks and costs in the Incoterms distribution chain
Familiarizing the conflicting factors between shipping and Incoterms
Empowering Incoterms with Logistics and Negotiation competencies
Normal Fee ~ RM 750 / person
Group Discount ~ RM 638 / person (for 3 or more participants)
(Price incl. 6% Service Tax)