New Incoterms 2020

An overview of the most important changes in the Incoterms 2020 version

January 1st 2020 the new Incoterms 2020 became effective. The terms will replace Incoterms 2010 and is an optimization made in order to avoid pitfalls from the changes in trade practices and regulations. The 2020 terms are very alike the previous version but with slight, yet important, adaptions. It is essential to acquaint oneself with the changes and what they mean. Read the article below and download our A4 page with a visual illustration of the new Incoterms 2020.

What are Incoterms for?

Incoterms were provided by the International Chamber of Commerce (ICC) and the first version was revealed in 1936. In short, the terms are generally accepted rules in the purchase agreement for international trade. Hence, the Incoterms 2020 can be used as a guideline for identifying the responsibilities of buyers and sellers for the delivery of cargo – applicable for both local and international trade. Further, the Incoterms aid in calculating when and how the risk of cargoes passes from the seller to the buyer. Incoterms applies only when buyer and seller have agreed.

Commercial players are by Incoterms enabled to minimize trade disputes and litigations whilst clearly outlining responsibilities and charges in both the buyer and the seller’s best interest.

Incoterms 2020 became effective 1. January 2020
Incoterms are part of the purchase agreement and not the transport agreement. BUT Incoterms will have an impact on the content of the transport agreement!

The Incoterms 2020 visualized

Click the button below to download an Incoterms 2020 PDF file – ready to print and distribute at your office.

What has been changed?

The most essential changes from the 2010 version to the new 2020 version are listed below:

• DAT is changed into DPU
• FCA can be combined with on-board bill of lading
• CIP assumes “all risk” goods insurance, i.e. ICC A terms. (CIF still requires ICC C terms only)
• The seller or buyer can handle the transport himself/herself (as opposed to having an outside carrier do it)
• Greater clarification of the distribution of costs between the seller and the buyer, e.g. for security, screening of containers, etc.


Related Posts

48 Responses
  1. I am extremely inspired along with your writing abilities as neatly as with the structure on your blog. Is that this a paid subject matter or did you modify it yourself? Either way stay up the excellent quality writing, it’s rare to peer a nice blog like this one nowadays.

  2. Hi, I do think this is a great web site. I stumbledupon it 😉 I will return once again since i have book-marked it.
    Money and freedom is the greatest way to change, may you be rich and continue to guide other people.

  3. Woah! I’m really enjoying the template/theme of this blog.
    It’s simple, yet effective. A lot of times it’s very hard to get that “perfect balance” between superb usability and visual appeal.
    I must say you’ve done a fantastic job with this.
    Also, the blog loads very fast for me on Firefox. Outstanding

  4. Hello I am so glad I found your web site, I really found you by accident, while I was searching on Aol for something else, Nonetheless I am here now and would just like to
    say thank you for a tremendous post and a all round exciting blog (I also love the
    theme/design), I don’t have time to go through
    it all at the moment but I have saved it and also included your RSS feeds, so when I have time I will be back to read more, Please
    do keep up the awesome b.

  5. I liked up to you will receive performed proper here. The
    caricature is attractive, your authored material stylish.
    however, you command get bought an shakiness over that you would like be delivering the following.
    sick for sure come more beforehand once more as exactly the same
    just about a lot regularly inside case you protect this increase.

    Also visit my site :: Redwood CBD

  6. Unquestionably consider that which you stated. Your favorite justification appeared to be
    on the internet the simplest factor to take into account of.

    I say to you, I certainly get irked whilst other people think about issues
    that they just don’t understand about. You managed
    to hit the nail upon the top as neatly as defined out the whole thing without
    having side-effects , people can take a signal.
    Will probably be again to get more. Thank you

  7. Incredible! This blog looks exactly like my old one! It’s on a totally different topic but it has pretty much the same layout and design. Excellent choice of colors!

  8. I’m not that much of a online reader to be honest but your sites really nice, keep it up! I’ll go ahead and bookmark your website to come back later on. All the best

  9. Hi, I do believe your blog could be having web browser compatibility problems. Whenever I look at your web site in Safari, it looks fine however, when opening in Internet Explorer, it’s got some overlapping issues. I just wanted to give you a quick heads up! Aside from that, great website!

  10. hello!,I like your writing very much! percentage we communicate extra about your post on AOL? I need an expert in this area to unravel my problem. Maybe that is you! Taking a look ahead to look you.

  11. In this awesome design of things you actually secure a B- with regard to effort and hard work. Exactly where you misplaced me was on your specifics. As they say, details make or break the argument.. And it could not be much more accurate at this point. Having said that, let me say to you what exactly did give good results. The text can be rather persuasive and that is most likely why I am taking an effort to comment. I do not make it a regular habit of doing that. 2nd, while I can see the jumps in reason you make, I am not sure of just how you seem to connect your ideas which help to make your conclusion. For now I will yield to your position however trust in the future you connect your facts better.

Leave a Reply