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INCOTERMS® 2020

LESCHACO Incoterms

On January 1, 2020 Incoterms® 2020 become the newest edition of the Incoterms® rules to help prepare business for the next century of global trade.

With Incoterms® the International Chamber of Commerce (ICC) presents a specific guidance to individuals participating in the import and export of global trade daily.

Incoterms® 2020 address todays increasing demands on security requirements, insurance coverage, financing and changes to trading practice and were restructured, updated and supplemented with practical operational advice.

With a simpler and clearer presentation, expanded introductions and explanatory notes, articles reordered to better reflect the logic of a sales transaction the application is facilitated.

Incoterms® rules are not in themselves – and therefore no substitute for – a contract of sale! They can be included in the purchase agreement/sales contract as follows:

[selected Incoterms® clause]
[named port, place or location]
[Incoterms® YYYY]

It is imperative to be precise with the exact version of chosen Incoterms® rules to avoid complications. With the reference to Incoterms® rules in a contract of sales of goods the parties’ respective obligations get clearly defined regarding risk, costs, arrangement of transport and customs clearance.

Changes at a Glance:

  • Incoterms® 2010 DAT changes to Incoterms® 2020 DPU. Any (agreed) location can be the destination in the future.
  • Incoterms® 2020 consider the Bill of Lading with on-board notation for FCA. Selling & Buying party can obtain to provide the shipper a B/L with On-Board-Remark.    
  • Different coverage heights in CIF & CIP.
    In contrast to Incoterms® 2010, CIF includes the lowest possible insurance covering; CIP includes an ‘all risk’-coverage, as per Institute Cargo Clauses (‘A-Clause’).
  • Incoterms® 2020 [FCA, DAP, DPU, DDP] consider the arrangement of carriage with selling or buying parties own means.
  • Inclusion of safety-related requirements for the transport of goods as well as clarification within distribution of security obligations and associated costs for all Incoterms® 2020. 

 

DOWNLOAD INCOTERMS® 2020 CHART

DOWNLOAD INCOTERMS® 2020 BROCHURE

Further Information

Contact

Lexzau, Scharbau GmbH & Co. KG
Kap-Horn-Strasse 18
28237 Bremen
Germany

phone (49) 421.6101 0
fax (49) 421.6101 489