New iPhone Application on Incoterms® Released for International Trade

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Incoterms® provide a common language on importing and exporting for international traders. Knowing this language protects traders from costly errors. Keeping up with the latest version of the Incoterms® could not be any easier than with the use of PM Champion’s latest iPhone and iPad Tutorial app.

Incoterms® 2010 Tutorial for iPad and iPhone

Also provided in the new Incoterms® 2010 Tutorial is a description of the breakdown of responsibilities between the buyer and the seller and an overview of the transfer of risk.

PMChampion.com has just released their new app called “Incoterms® 2010 Tutorial” for iPhone and iPad. This application is an essential tool for all international Import & Export traders. It provides quick and easy access to the 2010 Incoterms®, including descriptions of each term and their applicability to individual trades. Having knowledge of these terms is intrinsic to traders in order to protect themselves and their goods from misinterpretations regarding responsibilities, costs and risks.

Incoterms® are published by the International Chamber of Commerce (ICC). Governments, legal authorities and practitioners worldwide, accept Incoterms® for the interpretation of the most commonly used terms in international trade. Each Incoterm® is referred to by a three-letter abbreviation. There are 11 Incoterms® 2010 which can be listed in order of increasing risk/liability for the seller (exporter).

The new app Incoterms® 2010 Tutorial highlights the changes from Incoterms® 2000 to the new Incoterms® 2010. Changes in technology have prompted changes to the Incoterms including a reduction of rules from 13 to 11. The new terms also include a reclassification based on modes of transportation. All of these changes are summarized in the app provided by PM Champion.

Also provided in the new Incoterms® Tutorial is a description of the breakdown of responsibilities between the buyer and the seller and an overview of the “transfer of risk.” The application includes several educational videos, “Tips & Tricks” to avoid unpleasant situations on international contracts, and recommendations for additional in-depth guides.

For traders, Incoterms® are an indispensable guide for conducting business. Now traders have an indispensable tool for referencing at all times.

For more information on Incoterms 2010 Tutorial app and all other PM Champion apps visit http://www.pmchampion.com/incoterms.

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