From January 1st 2011 onwards, revised Incoterms come into effect worldwide. Hereinafter a summary of all relevant informations and reforms for you – at a glance:
- In the future, there will be only 11 clauses instead of 11.
- These 11 clauses have been divided into two categries:
- clauses for all types of transport: EXW, FCA, CPT, CIP, DAT, DAP, DDP
- clauses for the marine and inland marine transport: FAS, FOB, CFR, CIF
- The DAT and DAP Incoterms replace the former clauses DEQ, DAF, DES, and DDU
- In compliance with Incoterms 2010, goods are considered as having been delivered as soon as they are on board the vessel, and not as previously, above the railing of the ship.
According to the ICC, the Incoterms may be applied to both domestic and international purchase contracts.
Source: Incoterms 2010 by International Chamber of Commerce
The Incoterms® are published by the International Chamber of Commerce (ICC) Only the text version published by the ICC is binding!You're invited to embed this infographic on your website: