Incoterms® rules 2020

Thematic resource

November 2019

Incoterms® rules 2020

Incoterms® 2020 from the International Chamber of Commerce (ICC): master the risks and costs of your international transport operations!

ICC incoterms2010EXW, FCA, CPT, CIP, DAP, DPU, DDP, FAS, FOB, CFR, CIF ... 3 letters that say a lot about your logistics profile!

Is the choice of incoterm a key part of your logistics strategy? Do you let your suppliers choose the incoterm in your purchase agreements?

Incoterms determine the reciprocal obligations of the seller and the buyer under an international purchase / sale agreement.

The Incoterms® 2020 (International Commercial Terms), come into effect on January 1, 2020.

This latest version has the advantage to

  • adapt Incoterms® to current business practices and global trade trends;
  • facilitate the understanding and correct use of Incoterms®.

Main innovations of Incoterms® 2020

  • End of the Incoterm DAT for the benefit of the new Incoterm® DPU
  • More warnings to reserve the Incoterm® EXW for national trade, ie when there are no customs formalities for export (example: intra-community flows)
  • Two different levels of insurance for Incoterms® CIP and CIF
  • Possibility of annotation of boarding on the bill of lading for the Incoterm® FCA
  • Breakdown of detailed costs in bonds
  • Introduction of the concept of transport organization
  • More detailed indication of to the designated place

photo-portrait-dcExpert advice

Diana CAMMARANO, International Trade Expert-Trainer

"Far from being a redesign, the Incoterms® 2020 rules complement and reinforce the positions taken by the ICC experts with the 2010 version. Their stated intention is above all to promote an even wider diffusion and to facilitate the understanding of the rules for a better use".

Inter-company training courses Incoterms® 2020

Check the agenda online and sign up for our next training sessions in Paris and Voiron (38):

Incoterms® 2020 agenda

MULTIMODAL INCOTERMS® 2020

Distribution of costs and risks between buyer and seller

Ex Works (EXW), Free Carrier (FCA), Carriage Paid To (CPT), Carriage and Insurance Paid To (CIP), Delivered At Place (DAP), Delivered at Place Unloaded (DPU) et Delivered Duty Paid (DDP).

ACTE-incoterms-2020-multimodaux

Free Incoterms® 2020 Tables!

To receive our free Incoterms® 2020 (maritime & multimodal) summary tables in .PDF format, send us your request via the contact form:

Request Incoterms® tables

MARITIME INCOTERMS® 2020

Distribution of costs and risks between buyer and seller

Free Alongside Ship (FAS), Free On Board (FOB), Cost and Freight (CFR) et Cost Insurance and Freight (CIF).

ACTE-incoterms-2020-maritimes

 

Incoterms® 2020 : useful links

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