Incoterms® rules define the responsibilities of buyers and sellers for the delivery of goods under sales contracts. Incoterms® 2010 takes into account the latest developments in commercial practice, and updates and consolidates some of the former rules. A new classification system divides the 11 Incoterms® rules into two distinct groups:
Rules for any mode of transport: EXW FCA CPT CIP DAT DAP DDP
Rules for waterway transport: FAS FOB CFR CIF
In addition to the 11 rules, Incoterms®2010 includes:
Extensive guidance notes and illustrative graphics to help users efficiently choose the right rule for each transaction;
New classification to help choosing the most suitable rule in relation to the mode of transport;
Advice for the use of electronic procedures;
Information on security-related clearances for shipments;
Advice for the use of Incoterms® 2010 in domestic trade.
For related trainings and conferences, please go to www.incoterms2010.ch.
ICC has been writing and publishing Incoterms® rules for more than 70 years, providing importers, exporters, lawyers, freight forwarders, insurers and students in the international arena with rules and guidance reflecting the latest developments in the trading environment.
Implementation date: 1 January 2011