Incoterms 2010 consists of only 11 Incoterms, a reduction from the 13 Incoterms 2000.
The Incoterms 2010 are organized into two categories:
Incoterms for any Mode or Modes of Transport:
EXW - Ex Works
FCA - Free Carrier
CPT - Carriage Paid To
CIP - Carriage and Insurance Paid
DAT - Delivered At Terminal (new)
DAP - Delivered At Place (new)
DDP - Delivered Duty Paid
>>INCOTERMS 2010
>>Incoterms 2010 will take effect on January 1st, 2011
>>Incoterms 2010 Part 1- New terms and Structure
>>Incoterms 2010 Part 2:Revision Rationale
>>Incoterms 2010 Part 3:10 Tips on Using Incoterms2010
Showing posts with label INCOTERMS 2010. Show all posts
Showing posts with label INCOTERMS 2010. Show all posts
Thursday, February 24, 2011
Thursday, February 17, 2011
Incoterms 2010 Part 5:Maritime Incoterms NOT for Containers
Incoterms 2010 Part 5:Maritime Incoterms NOT for Containers
Incoterms 2010 Part 4:Has the Ship’s Rail fallen of the Ship?
Incoterms 2010 Part 4:Has the Ship’s Rail fallen of the Ship?
Incoterms 2010 Part 3:10 Tips on Using Incoterms2010
Incoterms 2010 Part 3:10 Tips on Using Incoterms2010
Incoterms 2010 will take effect on January 1st, 2011
Incoterms 2010 will take effect on January 1st, 2011. Since the last revision, Incoterms 2000, there have been a number of changes in both global and domestic trade, this revision addresses those changes. In contrast to the previous four classes, E,F,C and D, Incoterms will now be separated into 2 groups, those applicable to all modes of transport and those only applicable to sea and inland waterway transport.
There will now be a total of 11 terms instead of 13, with 2 new additions, DAP and DAT and 4 deletions, DAF, DDU, DEQ and DES. Incoterms 2010 applicable for all modes of transport:
EXW : ex works
FCA : free carrier
CPT : carriage paid to
CIP : carriage and insurance paid to
DAT : delivered at terminal – NEW!
DAP : delivered at place – NEW!
DDP : delivered duty paid
Incoterms 2010 only applicable for sea and inland waterway transport:
FAS : free alongside ship
FOB : free on board
CFR : cost and freight
CIF : cost, insurance and freight
http://www.iccwbo.org/
There will now be a total of 11 terms instead of 13, with 2 new additions, DAP and DAT and 4 deletions, DAF, DDU, DEQ and DES. Incoterms 2010 applicable for all modes of transport:
EXW : ex works
FCA : free carrier
CPT : carriage paid to
CIP : carriage and insurance paid to
DAT : delivered at terminal – NEW!
DAP : delivered at place – NEW!
DDP : delivered duty paid
Incoterms 2010 only applicable for sea and inland waterway transport:
FAS : free alongside ship
FOB : free on board
CFR : cost and freight
CIF : cost, insurance and freight
http://www.iccwbo.org/
INCOTERMS 2010
Incoterms® – International Commercial Terms
The Incoterms® rules are an internationally recognized standard and are used worldwide in international and domestic contracts for the sale of goods. First published in 1936, Incoterms® rules provide internationally accepted definitions and rules of interpretation for most common commercial terms.
The rules have been developed and maintained by experts and practitioners brought together by ICC and have become the standard in international business rules setting. They help traders avoid costly misunderstandings by clarifying the tasks, costs and risks involved in the delivery of goods from sellers to buyers. Incoterms® rules are recognized by UNCITRAL as the global standard for the interpretation of the most common terms in foreign trade.
It is to be noted that all contracts made under INCOTERMS® 2000 remain valid even after 2011. Moreover, although we recommend using Incoterms® 2010 after 2011, parties to a contract for the sale of goods can agree to choose any version of the Incoterms rules after 2011. It is important however to clearly specify the chosen version INCOTERMS® 2010, INCOTERMS® 2000 or any earlier version.
The Incoterms® rules are an internationally recognized standard and are used worldwide in international and domestic contracts for the sale of goods. First published in 1936, Incoterms® rules provide internationally accepted definitions and rules of interpretation for most common commercial terms.
The rules have been developed and maintained by experts and practitioners brought together by ICC and have become the standard in international business rules setting. They help traders avoid costly misunderstandings by clarifying the tasks, costs and risks involved in the delivery of goods from sellers to buyers. Incoterms® rules are recognized by UNCITRAL as the global standard for the interpretation of the most common terms in foreign trade.
It is to be noted that all contracts made under INCOTERMS® 2000 remain valid even after 2011. Moreover, although we recommend using Incoterms® 2010 after 2011, parties to a contract for the sale of goods can agree to choose any version of the Incoterms rules after 2011. It is important however to clearly specify the chosen version INCOTERMS® 2010, INCOTERMS® 2000 or any earlier version.
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