New version of Incoterms 2020

From January 1st 2020 a new version of Incoterms will be in force.

Incoterms defines the contractual clauses, which are used in national and international business for the clear definition of the duties of seller and buyer. Incoterms is a registered, protected trademark of the ICC (International Chamber of Commerce).

Normally a new version is published at the beginning of each new decade.

The main changes from the 2010 version are:

1. Bills of lading with an on- board notation and the FCA Incoterms rule
2. Costs, where they are listed (at A9/B9 of each rule, instead at A6/B6)
3. C Different levels of insurance cover in CIF and CIP
4. Arranging for carriage with seller’s or buyer’s own means of transport in FCA, DAP, DPU and DDP
5. Change in three-letter initials for DAT to DPU (Delivered at Place Unloaded)
6. Inclusion of security-related requirements within carriage obligations and costs
7. Explanatory notes for users

The details are well written in the book “Incoterms 2020”.