Incoterms 2010

Posted on: 21/01/2011

As you will be aware the ICC has up-dated Incoterms - the international delivery terms. The old version - Incoterms 2000 - was updated in 2010 and from 1 January 2011 Incoterms 2010 came into force.  Two new terms have been added - DAT and DAP - while the terms DAF, DES, DEQ and DDU have been removed.  The ICC Incoterms 2010 are now suitable for domestic contracts.  A lot of the other changes are, what we would call, "tweaks" but there are significant "tweaks" within each of the 4 Incoterms Groups - Group E, Group F, Group C and Group D.  ExWorks is recommended for domestic use only.  FAS, FOB, CFR and CIF is recommended for non-containerised freight only and, for FOB, CFR and CIF, the risk passes once the goods are loaded on board not when they cross the ship's rail at loading.   The diffferences between the transfer of risk and the costs within Group C (CFR, CIF, CPT, CIP) has been clarified.   For further information on Strong & Herd Incoterms services, including Incoterms 2010 books, Incoterms 2010 charts and Incoterms training visit:  www.strongandherd.co.uk/incoterms-2010/

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