At the beginning of 2020 the latest version of Incoterms® will be introduced - known as ICC Incoterms®2020. How this new version differs from the current ICC Incoterms®2010 version will be announced in October 2019.
The changes are likely to include the elimination of certain out-dated Incoterms® and the inclusion of a new one.
In our next Incoterms & Export License Controls Course, we will be providing an overview of this new version of the terms and covering what the differences are between the current 2010 version.
Incoterms®, if used correctly, can avoid the uncertainty in the import and export process by clearly stating where responsibility lies. If you agree to use a term but don’t understand the full implications required by your business, it could result in unexpected costs, delays and obligations.
So if you don’t know your DAP from your DAT, get your FOB confused with your FCA? This course will guide you through each of the International Commercial Terms, explaining the costs and risks involved to both the Buyer and Seller.
Click here for more information on our Incoterms® course
Click here for more information on the likely changes