Incoterms 2010

The International Chamber of Commerce (ICC) has issued new Incoterms which will be in use from 1st January 2011. ICC Publication No. 715E, 2010 Edition, will be available to purchase from the ICC from the middle of September 2010 and the present price is Euro 55 for the English edition and Euro 60 for the English/French edition.

Instead of 13 Incoterms there are now 11.

The main changes are in the delivery terms, where instead of DAF (Delivered at Frontier), DES (Delivered Ex-Ship), DEQ (Delivered Ex-Quay), DDU (Delivered Duty Unpaid) and DDP (Delivered Duty paid) there will now be only 3 Incoterms, all of which can be used with any mode of transport:

DAT (Delivered at Terminal)
DAP (Delivered at Place)
DDP (Delivered Duty paid)

All the other Incoterms remain. The shipment terms used by sea freight and inland water transport only of FAS (Free Alongside Ship), FOB (Free on Board), CFR (Cost and Freight) and CIF (Cost, Insurance and Freight) and the shipment terms for any mode or modes of transport consisting of EXW (Ex-Works), FCA (Free Carrier), CPT (Carriage Paid To) and CIP (Carriage and Insurance Paid To).

Maria Narancic from Point to Point Export Services is an independent international trade adviser who assists organisations world wide with their international trade projects, documentation, Documentary Credits and import/export training.  She is based in the United Kingdom.  If you require any further assistance with the matters mentioned above, please do contact us by e-mail on info@point-point.com or check out other useful articles on exporting on the Point to Point Export Services website at www.point-point.com
 

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