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The International Chamber of Commerce (ICC) has published an Incoterms® 2020 set of rules, which shows and explains 11 Incoterms®.
In the Incoterms® 2020 rules, the old Incoterms® are revised and adapted to the latest business practice. The rules came into effect on January 1, 2020.
Differences between Incoterms® 2010 and 2020:
- FCA (Free Carrier): It is now possible to leave an “on-board” note on the bill of lading before loading it onto a ship.
- All Incoterms® clauses: all costs now appear uniformly in A9 / B9.
- CIP (Carriage and Insurance Paid to): insurance with the minimum protection according to the Institute Cargo clause (A) is now necessary (All risks, subject to the exclusions listed).
- CIF (Cost, Insurance and Freight): insurance with the minimum protection according to the Institute Cargo clause (C) is now necessary (Listed risks, subject to the exclusions listed).
- FCA (Free Carrier), DAP (Delivered at Place), DPU (Delivered at Place Unloaded) and DDP (Delivered Duty Paid): the goods can be transported using our own means of transport without the commissioning of third parties.
- DAT (Delivered at Terminal): The name has been changed to DPU (Delivered at Place Unloaded) to show that the destination can be anything and does not have to be a terminal.
- With Incoterms® 2020, responsibility for security-related requirements and additional costs are explicitly placed on the seller.