INDUSTRY NEWS: Incoterms® 2020 have now been officially released by the ICC.

INDUSTRY NEWS

Incoterms® 2020 have now been officially released by the International Chamber of Commerce (ICC).

New rules were officially launched at an event in London on 15th October 2019.

Incoterms® 2020 have now been officially released by the International Chamber of Commerce (ICC).

Wednesday, 27th November 2019

Incoterms® 2020 have now been officially released by the International Chamber of Commerce (ICC), the new rules were officially launched at an event in London on 15th October.

The new Incoterms® 2020 are easier to use and more accessible, among some of the more specific changes are:

- Incoterms® 2020 provides for demonstrated market needs in relation to bills of lading (BL) with an on-board notation and the
Free Carrier (FCA) Incoterms®
- Incoterms® 2020 aligns different levels of insurance coverage in Cost Insurance and Freight (CIF) and Carriage and Insurance Paid To (CIP).
- Incoterms® 2020 includes arrangements for carriage with own means of transport in FCA, Delivery at Place (DAP), Delivery at Place Unloaded (DPU), and Delivered Duty Paid (DDP).
- There is a change in the three-letter name for Delivered at Terminal (DAT) to DPU.
- Incoterms® 2020 includes security-related requirements within carriage obligations and costs.

For more information regarding Incoterms® 2020, please don’t hesitate to contact us at sales.support@fsmac.com.

F.S. Mackenzie are AEO accredited.

 

Source: https://www.export.org.uk/news/470289/Incoterms-2020-officially-released.htm