ICC looks at revising Incoterms Rules 2010

The first meeting, held in London on Thursday 12th January 2017, included discussions on areas of the current Incoterms 2010 Rules that require revision and the practical use of the 2010 set. Key areas need to be included in our official revision proposals to be sent to the ICC in Paris where they will be considered alongside proposals from around 80 other countries.

 

 

You Can Influence the Revision of Incoterms for 2020


Strong & Herd LLP (S&H) are pleased to again be invited to be part of the International Chamber of Commerce (ICC) UK National Committee on revising the Incoterms Rules for 2020.  The first meeting, held in London on Thursday 12th January 2017, included discussions on areas of the current Incoterms 2010 Rules that require revision and the practical use of the 2010 set.  Key areas need to be included in our official revision proposals to be sent to the ICC in Paris where they will be considered alongside proposals from around 80 other countries.

The UK ICC is hoping that companies who use the Incoterms Rules will feed into members of the National Committee with their own comments on issues, concerns, misunderstandings and how these may be addressed. Areas include: current practices not covered, the benefits of using certain terms, the actual structure of the rules and physical guides and areas of the terms that are confusing.

S&H are hoping our clients and contacts (wherever you are based in the world) will assist in gathering information that can be used during the next 2 years in the revision process to ensure that the 2020 set is relevant and useful in providing clarity in international trade contracts going forward.

S&H are particularly interested in hearing from companies who are willing to provide a case study on Incoterms 2020 based on their own business experiences - areas of particular interest are listed below but any insight will be useful -

  1. As a buyer have you changed from FOB Port of Export to FCA for containerised freight?
  2. Have you changed from ExWorks to FCA Seller's Premises?
  3. If you are a commodity trader do you find Incoterms 2010 difficult to use?
  4. Issues with buying or selling under DDP terms - good or bad
  5. The division of cargo security and/or VGM costs
  6. Where Incoterms Rules don't match a contract of carriage

If you are interested and wish to learn more please click on the following link I would like to discuss a Case Study or Comments on Incoterms 2010 -

If you are unsure of what is currently covered by Incoterms 2010 you can find more information on our website where you can also purchase a copy of the book and wall chart

We will provide information on how the negotiations proceed as soon as it is available for distribution.  But in the meantime, please contact us if you require further information or guidance, you may also be interested in the following training courses

INCOTERMS 2010 EXPLAINED
WHAT'S NEW
EXPORT ESSENTIALS
IMPORT ESSENTIALS


   

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