UPDATE: New "INCOTERMS 2020" entered into force as from 1 January 2020!
This is actually a simple update of Incoterms 2010. The 11 Incoterms are effectively maintained.
So, What's new ?
The amendments mainly concern 4 Incoterms :
- The CIP 2010 is amended : CIP 2020 will now be comprehensive insurance coverage.
- From now on, the minimum insurance will only be possible for the CIF.
- The DAT (Delivered At Terminal) rule becomes the DPU (Delivered at Place Unloaded) rule.
- The FCA was amended and now allows the parties to agree that the buyer obtains the bill of lading : Addition of a " bill of lading on board" option;
The parties shall ensure that the chosen incoterm is mentioned, as well as the reference to the year, in order to avoid any difficulty of interpretation in the event of a dispute.
These rules enter into force on 01 01 2020;
Feel free to contact us for any further information: