(ON DECEMBER 15, 2023) Mr. Le Saigon, as a Master lecturer at the Saigon Import-Export Center SIMEX, had a memorable lecture at DRAEXLMAIER AUTOMOTIVE VIETNAM. The lesson focused on the content of INCOTERMS, an important topic in the field of international trade.
DRAEXLMAIER AUTOMOTIVE VIETNAM is an international group providing solutions for electrical systems, electronic components, premium interiors, and battery systems for electric cars. With years of experience, the company supports luxury car manufacturers such as Audi, BMW, Jaguar, Land Rover, Maserati, Mercedes-Benz, MINI, Porsche, Rolls-Royce, and Volkswagen throughout the entire production process. Located in Tam Thang Industrial Zone, Tam Ky, Quang Nam, Vietnam, DRAEXLMAIER contributes to the automotive industry by developing advanced wire technology and electrical and electronic components, including multi-voltage wire systems and battery management systems.
Legal content and risk analysis: Mr. Le delved into the legal aspects of INCOTERMS, explaining how they form the framework for international transactions. He also analyzed related risks and how INCOTERMS terms help divide responsibilities between the seller and the buyer.
Content of each Term in INCOTERMS 2020-2010:
Method name: Mr. Le introduced 11 conditions from INCOTERMS 2010 and 2020, from EXW (Ex Works) to DDP (Delivered Duty Paid). Delivery location: He pointed out the specific delivery location for each condition, from the seller’s factory to the location designated by the buyer. Risk division: Mr. Le explained how risk is transferred from the seller to the buyer at different points during transportation. Cost division: He also discussed the division of transportation and insurance costs among the parties involved. How to quickly remember and not confuse 11 Incoterms 2010; 2020 conditions: Mr. Le shared memorization methods to help students easily remember and apply Incoterms conditions without confusion.
Reconciliation between theory and effective use in practice at import-export enterprises: He gave real examples to illustrate how to apply Incoterms theory to import-export business practice.
Use cases of each Term according to business method, transport method, payment method: Mr. Le discussed choosing suitable Incoterms terms based on business method, transportation, and payment.
Mr. Le’s lecture not only provided in-depth knowledge about INCOTERMS but also helped students understand how to apply these terms to business practice, thereby enhancing competitiveness and efficiency in the global market.
