Incoterms Update For 2020
Please find attached an update of the new Incoterms effective 1st January 2020
- For all Incoterms, a strong emphasis is now put on the “Named Place, Port, or Destination” – practically speaking, Incoterms Rules 2020 now requires this level of specificity.
- EXW is now deemphasized for international freight transportation and is recommended for domestic transport moves only.
- FCA now has two possible places of delivery- that is, where the risk of loss or damage transfers from seller to the buyer. These locations must be stated when using this Incoterm, in particular.
- DAT is gone, and is replaced with DPU – Delivered at (Named) Place/Destination, Unloaded. This is the only Incoterm which makes the seller responsible for unloading the transport at destination.
Attached is a Incoterm reference guide.
If any further information is required, please contact your friendly local Mainfreight team!