New Incoterms 2010 come into effect 1 January 2011
The International Chamber of Commerce (ICC) announced that Incoterms® 2010 launched in September 2010, came into effect on 1 January, 2011.
To keep up with the rapid expansion of world trade and globalization, the Incoterms rules are revised about once a decade. Since the last revision in 2000, much has changed in global trade and the current revision will take into account issues such as developments in cargo security and the need to replace paper documents with electronic ones.
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The 2010 edition includes 11 terms instead of the 13 in the previous edition.
DAF, DES, DEQ and DDU.
Two new terms have been added to the list:
DAT replaces Incoterms 2000 rule DEQ.
Whilst Incoterms 2000 had four categories, Incoterms® 2010 only has two categories.
The Incoterms® 2010 are arranged in two categories as follows:
Rules for Any Mode of Transport
EXW - Ex Works
Rules for Sea and Inland Waterway Transport Only
FAS - Free Alongside Ship
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;
Used in international and domestic contracts for the sale of goods, Incoterms help parties avoid misunderstandings by clearly identifying the obligations of the buyer and seller.
Featuring the two new rules, the Incoterms® 2010 edition reflects advances in international trade over the last decade, and is an essential tool for trade. Used in both international and domestic contracts for the sale of goods, the rules simplify the drafting of such contracts and help avoid misunderstandings by clearly setting out certain obligations of buyers and sellers
The new Incoterms® 2010 are in use from 1st January 2011.
This 77-page e-Guide to the 2010 version of Incoterms® is an essential companion to the official ICC publication, Incoterms® 2010, which lists the rules and the obligations for Sellers and Buyers.
Get your Made Easy e-Guide to Incoterms® 2010 Rules here:
The Incoterms® 2010 Publications
Books Available from Incoterms® 2010 Publications as follows.
ICC Publication No. 715E, the 2010 English edition, Paper version, is available to purchase from the ICC and the present price is Euro 55.
ICC Publication No. 715EF, the 2010 English-French edition, Paper version, is available to purchase from the ICC and the present price is Euro 60.
Incoterms® 2010Videos Part 6
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LINKS TO INCOTERMS® 2010 INFORMATION:
Incoterms® 2010 Home Page
Incoterms® 2010 Publications
Incoterms® 2010 Articles
Incoterms® 2010 Events
Incoterms® 2010 Videos
Incoterms® 2010 News
Import Export Made Easy Home Page
All the best with Incoterms,
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