From 1 January 2020, revised Incoterms will come into effect worldwide. In order to inform you of the changes, we have summarised all of the relevant information into an overview:
- FCA, if agreed in the contract, the buyer must instruct its carrier to issue a bill of lading to the seller.
- Different level of insurance for CIP and CIF, CIP cargo clause “A” CIF cargo clause “C”.
- The seller or buyers can now arrange the carriage with their own mean of transport under FCA, DAP, DPU, and DDP.
- Change of the three letters DAT to DPU, Delivered At Terminal to Delivered Place Unpacked.
- Inclusion of security related requirements within the carriage obligation and costs.
Pursuant to the ICC, Incoterms may be applied to both domestic and to international purchase contracts. If you have any questions or if we can assist in any other way, please get in contact with us. Source: Incoterms 2020 by International Chamber of Commerce The Incoterms® are published by the International Chamber of Commerce (ICC) Only the text version published by the ICC is binding!