Published At: Tue 13 of Sep., 2011 15:29 EDT -
Win Global Partners is glad to share Incoterms® 2010 Wall Chart designed by our specialists based on the official ICC guidebook.
Win Global Partners is glad to share Incoterms® 2010 Wall Chart designed by
our specialists based on the official ICC guidebook. Click on the image below to enlarge (opens in the separate window).
Incoterms® 2010 vs Incoterms® 2000 First of all, there are two classes of terms - those which are applicable to marine transport only and those which are applicable to any mode of transportation. For example, FOB (Free On Board), one of the most popular term is in the first category. Secondly, there is a sufficient change in D group of terms. Starting January 1st, 2011, DES (Delivered Ex Ship), DEQ (Delivered Ex Quay Duty Unpaid), DDU (Delivered Duty Unpaid) and DAF (Delivered At Frontier) will be replaced by DAT (Delivered at Terminal) and DAP (Delivered at Place). In Incoterms® 2010 the International Chamber of Commerce reflected the growing global economic integration as new terms can be applicable to the internal trade, not only to the international trade as it was before. Rising security costs in the international shipments are now defined in Incoterms® 2010 as a separate category of costs like insurance costs. Parties are welcome to negotiate who will cover those costs. The last, but not least important change is that the place of transferring risk now has to be as precise as possible. For example, former DDP Halifax (Delivered Duty Paid) now should be indicated as DDP 3299 John St., Halifax, NS, Canada. The purpose of this precision is to make sure that a correct term has been chosen and to avoid miscommunication. After all, this is a strong argument for an international trade arbiter.
Thu 01 of Jan., 2015 18:00 EST
PRACTICAL ASPECTS OF INTERNATIONAL TRADE - PAIT