SAQA Unit Standards

252437 Interpret and apply International commercial terms. Level 3 Credits 3.

Who you will learn from

An industry and subject matter expert who’ll guide you through your course content, and answer any subject matter questions you might have.

• Role players – seller, buyer, bank, ports, customs, freight forwarder, clearing agent, governments etc.
• International Commercial Terms: Incoterms® 2020 – importance of understanding the cost & risk of each trade transaction in the logistics environment.
• The definition of the precise point at which the seller of goods in international trade “delivers” those goods to the buyer.
• Explaining the duties & obligations of the seller & the buyer respectively with regard to the movement of goods and their responsibilities, risks and costs.
• Definitions: EXW, FCA, FAS, FOB, CFR, CIF, CPT, CIP, DPU, DAP, DDP.
• Usage of correct Incoterm for Air, Sea, Road.
• Visual simulation of each incoterm.
• Visual simulation of different trade transaction.
• Visual simulation of decisions made as a buyer, seller or freight forwarder in different scenarios.