Incoterms (International Commercial Terms of Sale) were first introduced by the International Chamber of Commerce (ICC) in back 1936 in in order to help streamline negotiations of contracts and communications and payments in international trade. Since 1990 there has been a revision in Incoterms rules in the first year of each decade. Incoterms have been revised in 1990, 2000 and 2010. Incoterms* 2020 was published on September10th and will be entered into force on January 1st 2020. Join us as we provide an overview of Incoterms 2020 including the challenges in their proper use, changes to the new Incoterms and how to use them properly.

Overview of Incoterms

Anticipated Changes that did not Happen

Challenges of Using Incoterms

Review of Noteable Changes to Incoterms 2020

New Incoterm: DPU - Delivered at Place Unloaded

Expansion of Incoterms FCA - Free Carrier

Changes to Cargo Insurance and Security Clauses