INCOTERMS-2020-DETAIL

ICC rules in force since 2020.

Definition

Incoterms 2020 keep 11 terms: 7 multimodal (EXW, FCA, CPT, CIP, DAP, DPU, DDP) + 4 maritime (FAS, FOB, CFR, CIF). 2020 innovations: DAT renamed DPU, CIP requires Institute Cargo Clauses (A) instead of (C), FCA allows providing an Onboard-marked B/L.

Origin

First Incoterms edition 1936 ; revised every 10 years ; Incoterms 2020 published 10 September 2019.

Example in context

A France-China contract cites Incoterms 2020 CIP Shanghai — seller insures ICC (A) until Chinese port.

Related terms

• Incoterms 2020 — parent concept.