In the fall of 2019, the ICC published a new version of the Incoterms which was modified to comply with new, global trade practices. Below please find a summary of the most significant changes for your information.
- FCA (free carrier) provides the purchaser with the option to instruct the carrier to issue a bill of lading to the seller after the goods have been loaded onto the vessel
- The rules of the Incoterms 2020 provide for different minimum insurance cover for CIF (cost, insurance, freight) and CIP (carriage insurance paid)
- The use of FCA, DAP, DPU, and DDP is also admissible for shipments using the purchaser’s or seller’s own means of transport
- DAT (delivered at terminal) was renamed DPU (delivered at place unloaded)
- clear rules on the distribution of safety obligations and associated costs
Find here all Incoterms 2020 to download as PDF.
