The 2020 version of the International Chamber of Commerce Incoterms® rules will be released in mid-September. This version differs its predecessors in several important respects.
For the first time, the drafting group has been opened to include representatives from Australia, China and Turkey as well as the usual European and U.S. participants. Moreover, the number of actual users as opposed to lawyers has increased. The result is a more user-friendly, less legalistic set of rules for the purchase and sale of goods both in international and domestic commerce.
Although Incoterms rules are written for worldwide application, they are not used in a vacuum. Every country has its own regulations, trade practices and even geographic imperatives which users should keep in mind. This is now particularly important for Americans in view of the unexpected reappearance of the once-deleted Uniform Commercial Code shipment and delivery terms.
While designed for use in sales-purchase contracts, Incoterms rules indirectly affect such additional considerations as carrier, forwarder and customs broker selection. They can even influence payment terms through documents resulting from transportation and insurance contracts.
Incoterms for Americans® addresses Incoterms rules from a U.S. perspective. The instructor is an experienced international trader who represented the United States at the 2000, 2010 and 2020 revisions. This seminar is offered under the auspices of the International Chamber of Commerce U.S. affiliate organization, the United States Council for International Business.
Details at: www.Incoterms-for-Americans.com
Incoterms is a trademark of the International Chamber of Commerce, registered in several countries. Incoterms for Americans is a registered trademark of International Projects, Inc., and Incoterms is use with International Chamber of Commerce permission.