Incoterms are revised every ten years by the ICC, to take account of changing practices in International Trade. The latest revision took effect from the beginning of January this year, but are you up to speed with these changes?
Incoterms® rules define the responsibilities of buyers and sellers for the delivery of goods under sales contracts. They are the authoritative rules for determining how costs and risks are allocated to the parties.
Incoterms® are relevant for everyone dealing with sales contracts and the movement of goods including UK goods traders (exporters and importers) logistics companies, trade financiers, insurers, shippers, freight forwarders, law firms, consultants and advisors.
Why should the 2020 version be used?
- Updated rule book to keep pace with the ever-changing global trade landscape
- Clear regulation of mutual contractual obligations
- Enables clarity in contracts
- No more misunderstandings
- Avoidance of costly disputes and litigation
- Recognised by UNCITRAL as the global standard
The course will be presented by Graham Card MIEx (Grad) International Trade Adviser at the Kent Invicta Chamber of Commerce