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INCOTERMS 2020 INFORMATION CONSULTING & CONTROLLING / SERVICES & SUPPORT
INCOTERMS 2020 INFORMATION CONSULTING & CONTROLLING / SERVICES & SUPPORT
In the fall of 2019, the ICC published a new version of the Incoterms which was modified to comply with new, global trade practices. Below please find a summary of the most significant changes for your information.
FCA (free carrier) provides the purchaser with the option to instruct the carrier to issue a bill of lading to the seller after the goods have been loaded onto the vessel
The rules of the Incoterms 2020 provide for different minimum insurance cover for CIF (cost, insurance, freight) and CIP (carriage insurance paid)
The use of FCA, DAP, DPU, and DDP is also admissible for shipments using the purchaser’s or seller’s own means of transport
DAT (delivered at terminal) was renamed DPU (delivered at place unloaded)
clear rules on the distribution of safety obligations and associated costs.
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You have received a LC? You would like to have a guarantee for payment and smooth workflow? We carefully check the content of your LC and control the suitable INCOTERMS. A corrected version will be send to you to grant payment from your business partners bank.
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