Incoterms 2020
09/25/2019
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Dear friends,

The Incoterms 2020 have come out.

Below you find an information, „what’s new“.

You can see, there is not really much new and if you allow the internal comment, „making a mountain out of a molehill“..........

Best regards

Fracht Ltd. Basel

R. Reisdorf

 

ICC has launched Incoterms 2020, the newest edition of the renowned trade terms in 29 languages available for purchase at the ICC's Bookshop. Access to the rules have also been made easier through a dedicated Incoterms 2020 mobile app.

FIATA was part of the International Chamber of Commerce (ICC) consultation that gave feedback to the drafting committee and made comments on the proposed changes in the 2020 edition. Some brief highlights trailed by the ICC are that Incoterms® 2020:

. Provides for demonstrated market needs in relation to bills of lading (BL) with an on-board notation on the Free Carrier (FCA) Incoterms®

. Aligns different levels of insurance coverage in Cost Insurance and Freight (CIF) and Carriage and Insurance Paid To (CIP).

. A change in the three-letter name for Delivered at Terminal (DAT) to Delivered at Place Unloaded (DPU).

. Includes arrangements for carriage with own means of transport in FCA, Delivered at Place (DAP), Delivered at Place Unloaded (DPU), and Delivered Duty Paid (DDP).

. Includes security-related requirements within carriage obligations and costs.

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