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Incoterms 2020—major overhaul or slight adjustment?

Incoterms 2020—major overhaul or slight adjustment?
Published on: 03 October 2019
Published by: LexisPSL
  • Incoterms 2020—major overhaul or slight adjustment?
  • Original news
  • Why are Incoterms changing?
  • What are the key changes?
  • 1. Incoterm FCA and the onboard bill of lading
  • 2. Incoterm delivered at place unloaded (DPU) replaces delivered at terminal (DAT)
  • 3. Increased insurance under carriage and insurance paid to (CIP)
  • 4. Clarification of allocation of costs between the buyer of goods and commercial sellers
  • 5. Further information on the use of buyer and/or seller’s own transport
  • 6. Improved structure
  • More...

Article summary

Commercial analysis: Geoff Wynne, partner at Sullivan & Worcester, explains the changes and how Incoterms 2020 will clarify the responsibilities and better allocate the risk between commercial parties. However, the new terms have not accounted for financing considerations, with potential implications for structuring financings. or take a trial to read the full analysis.

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