Scribd Logo
Upload

Welcome to Scribd!

  • 69 views

    Basic Overview of The Incoterms 2020 RULES

    Uploaded by

    Sanlin Tunn
    This document provides a brief overview of the Incoterms® 2020 rules for international trade. It outlines the key transportation obligations, costs, and risks for buyers and sellers under different trade terms. It also summarizes some of the changes between the 2010 and 2020 editions, such as renaming DAT to DPU and allowing FCA to include bills of lading issued after loading.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    Basic Overview of The Incoterms 2020 RULES

    Uploaded by

    Sanlin Tunn
    69 views4 pages
    This document provides a brief overview of the Incoterms® 2020 rules for international trade. It outlines the key transportation obligations, costs, and risks for buyers and sellers under different trade terms. It also summarizes some of the changes between the 2010 and 2020 editions, such as renaming DAT to DPU and allowing FCA to include bills of lading issued after loading.

    Original Title

    glo-dgf-incoterms-2020-brochure

    Copyright

    © © All Rights Reserved

    Available Formats

    DOCX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    This document provides a brief overview of the Incoterms® 2020 rules for international trade. It outlines the key transportation obligations, costs, and risks for buyers and sellers under different trade terms. It also summarizes some of the changes between the 2010 and 2020 editions, such as renaming DAT to DPU and allowing FCA to include bills of lading issued after loading.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    69 views4 pages

    Basic Overview of The Incoterms 2020 RULES

    Uploaded by

    Sanlin Tunn
    This document provides a brief overview of the Incoterms® 2020 rules for international trade. It outlines the key transportation obligations, costs, and risks for buyers and sellers under different trade terms. It also summarizes some of the changes between the 2010 and 2020 editions, such as renaming DAT to DPU and allowing FCA to include bills of lading issued after loading.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 4

    BASIC OVERVIEW

    OF THE INCOTERMS®
    2020 RULES
    This guide is designed to provide a quick overview of the Incoterms® rules frequently
    used worldwide in international and domestic contracts. The guide illustrates
    responsibilities between buyers and sellers with regards to costs, risks, responsibilities
    for cargo insurance and regulatory compliance. “Incoterms” is a registered trademark
    of the International Chamber of Commerce (ICC).

    Read more about Incoterms® rules from the official International Chamber of
    Commerce website, where you can also order the “Incoterms® 2020” publication.
    Sign up for online training on the Incoterms® 2020 rules at icc.academy
    2

    BASIC OVERVIEW OF THE


    INCOTERMS ® 2020 RULES
    *As per the Incoterms® rulebook: If parties want the Incoterms® 2020 rules to apply to their contract, the safest way to ensure this is to make that intention clear in their contract, through words such as:
    «(the chosen Incoterms® rule)(named port, place or point) Incoterms ® 2020»
    3

    RULES FOR SEA AND INLAND WATERWAY TRANSPORT

    *As per the Incoterms® rulebook: If parties want the Incoterms® 2020 rules to apply to their contract, the safest way to ensure this is to make that intention clear in their contract, through words such as: «(the
    chosen Incoterms® rule)(named port, place or point) Incoterms® 2020»

    This chart is not intended to be used alone, but always in conjunction with the Incoterms ® 2020 rule book.

    TRANSPORT OBLIGATIONS, COSTS AND RISKS


    RED indicates seller’s
    YELLOW indicates buyer’s
    GREEN indicates mixed or shared

    THERE ARE TWO KEY CHANGES IN INCOTERMS® 2020 COMPARED TO THE 2010 EDITION:

    n DAT (Delivered at Terminal) is renamed Delivered at Place Unloaded (DPU)  FCA (Free Carrier) now allows for Bills of Lading

    to be issued after loading OTHER CHANGES INCLUDE:

    n CIF (Cost, Insurance and Freight) and CIP (Carriage and Insurance Paid To) set out new standard insurance arrangements, but the
    level of insurance continues to be negotiable between buyer and seller.
    n Where listed, cost allocation between buyer and seller is stated more precisely - one article lists all costs the seller and the buyer are
    responsible for.
    n FCA (Free Carrier), DAP (Delivered at Place), DPU (Delivered at Place Unloaded) and DDP (Delivered Duty Paid) now take account of
    buyer and seller arranging their own transport rather than using a third party.
    n Security-related obligations are now more prominent.
    n “Explanatory Notes for Users” for each Incoterm ® have replaced the 2010 edition’s Guidance Notes, and are designed to be easier
    for users.
    n CIP now requires as default insurance coverage ICC A or equivalent. It was ICC C under Incoterms ® 2010. Required insurance
    coverage under CIF remains.
    ®
    For more information on Incoterms 2020 please visit
    logistics.dhl/incoterms-2020

    You might also like