This Practice Note comprises the guidance note to the CPT Carriage paid to Incoterm in the Incoterms® 2020 rules, produced here with the permission of ICC Publishing SA. Incoterms® 2020 rules and other ICC publications are available from ICC Publishing SA, 33-43 avenue du Président Wilson, 75116 Paris, France and from ICC United Kingdom, 1st Floor, 1-3 Staple Inn London, WC1V 7QH, United Kingdom, and www.iccwbo.org. Incoterms® 2020 rules came into force on 1 January 2020, and updated the Incoterms® 2010 rules to reflect changes to the market over the last decade. For the CPT Incoterm valid up until that date, see Practice Note: Incoterms® 2010 Rules—CPT Carriage paid to [Archived]. CPT (insert named place of destination) Incoterms® 2020 Explanatory notes for users 1. Delivery and risk ‘Carriage Paid To’ means that the seller delivers the goods—and transfers the risk—to the buyer • by handing the goods over to the carrier • contracted by the seller • or by procuring the goods so delivered. • the seller may do so by giving the carrier physical

This Practice Note comprises the guidance note to the DAP Delivered at place Incoterm in the Incoterms® 2020 rules, produced here with the permission of ICC Publishing SA. Incoterms® 2020 rules and other ICC publications are available from ICC Publishing SA, 33-43 avenue du Président Wilson, 75116 Paris, France and from ICC United Kingdom, 1st Floor, 1-3 Staple Inn London, WC1V 7QH, United Kingdom, and www.iccwbo.org. Incoterms® 2020 rules came into force on 1 January 2020, and updated the Incoterms® 2010 rules to reflect changes to the market over the last decade. For the DAP Incoterm valid up until that date, see Practice Note: Incoterms® 2010 Rules—DAP Delivered at place [Archived]. DAP (insert named place of destination) Incoterms® 2020 Explanatory notes for users 1. Delivery and risk ‘Delivered at Place’ means that the seller delivers the goods—and transfers risk—to the buyer • when the goods are placed at the disposal of the buyer • on the arriving means of transport ready for unloading • at the named place of destination or • at the agreed

This Practice Note comprises the guidance note to the DDP Delivered duty paid Incoterm in the Incoterms® 2020 rules, produced here with the permission of ICC Publishing SA. Incoterms® 2020 rules and other ICC publications are available from ICC Publishing SA, 33-43 avenue du Président Wilson, 75116 Paris, France and from ICC United Kingdom, 1st Floor, 1-3 Staple Inn London, WC1V 7QH, United Kingdom, and www.iccwbo.org. Incoterms® 2020 rules came into force on 1 January 2020, and updated the Incoterms® 2010 rules to reflect changes to the market over the last decade. For the DDP Incoterm valid up until that date, see Practice Note: Incoterms® 2010 Rules—DDP Delivered duty paid [Archived]. DDP (insert named place of destination) Incoterms® 2020 Explanatory notes for users 1. Delivery and risk ‘Delivered Duty Paid’ means that the seller delivers the goods to the buyer: • when the goods are placed at the disposal of the buyer, • cleared for import, • on the arriving means of transport, • ready for unloading, • at the named place of destination

This Practice Note comprises the guidance note to the DPU Delivered at Place Unloaded Incoterm in the Incoterms® 2020 rules, produced here with the permission of ICC Publishing SA. Incoterms® 2020 rules and other ICC publications are available from ICC Publishing SA, 33-43 avenue du Président Wilson, 75116 Paris, France and from ICC United Kingdom, 1st Floor, 1-3 Staple Inn London, WC1V 7QH, United Kingdom, and www.iccwbo.org. Incoterms® 2020 rules came into force on 1 January 2020, and updated the Incoterms® 2010 rules to reflect changes to the market over the last decade. For the corresponding DPU/DAT Incoterm valid up until that date, see Practice Note: Incoterms® 2010 Rules—DAT Delivered at terminal [Archived]. DPU (insert named place of destination) Incoterms® 2020 Explanatory notes for users 1. Delivery and risk ‘Delivered at Place Unloaded’ means that the seller delivers the goods—and transfers risk—to the buyer • when the goods, • once unloaded from the arriving means of transport, • are placed at the disposal of the buyer, • at a named place of destination, or • at

This Practice Note comprises the guidance note to the EXW Ex works Incoterm in the Incoterms® 2020 rules, produced here with the permission of ICC Publishing SA. Incoterms® 2020 rules and other ICC publications are available from ICC Publishing SA, 38 Cours Albert 1er, 75008 Paris, France and from ICC United Kingdom, 12 Grosvenor Place, London, SW1X 7HH, UK, and www.iccbooks.com. Incoterms® 2020 rules came into force on 1 January 2020, and updated the Incoterms® 2010 rules to reflect changes to the market over the last decade. For the EXW Incoterm valid up until that date, see Practice Note: Incoterms® 2010 Rules—EXW Ex works [Archived]. EXW (insert named place of delivery) Incoterms® 2020 Explanatory notes for users 1. Delivery and risk ‘Ex Works’ means that the seller delivers the goods to the buyer • when it places the goods at the disposal of the buyer at a named place (like a factory or warehouse), and • that named place may or may not be the seller’s premises. For delivery to occur, the seller does

This Practice Note comprises the guidance note to the FAS Free alongside ship Incoterm in the Incoterms® 2020 rules, produced here with the permission of ICC Publishing SA. Incoterms® 2020 rules and other ICC publications are available from ICC Publishing SA, 33-43 avenue du Président Wilson, 75116 Paris, France and from ICC United Kingdom, 1st Floor, 1-3 Staple Inn London, WC1V 7QH, United Kingdom, and www.iccwbo.org. Incoterms® 2020 rules came into force on 1 January 2020, and updated the Incoterms® 2010 rules to reflect changes to the market over the last decade. For the FAS Incoterm valid up until that date, see Practice Note: Incoterms® 2010 Rules—FAS Free alongside ship [Archived]. FAS (insert named port of shipment) Incoterms® 2010 Explanatory notes for users 1. Delivery and risk ‘Free Alongside Ship’ means that the seller delivers the goods to the buyer • when the goods are placed alongside the ship (eg on a quay or a barge) • nominated by the buyer • at the named port of shipment • or when the seller procures goods

This Practice Note comprises the guidance note to the FCA Free carrier Incoterm in the Incoterms® 2020 rules, produced here with the permission of ICC Publishing SA. Incoterms® 2020 rules and other ICC publications are available from ICC Publishing SA, 33-43 avenue du Président Wilson, 75116 Paris, France and from ICC United Kingdom, 1st Floor, 1-3 Staple Inn London, WC1V 7QH, United Kingdom, and www.iccwbo.org. Incoterms® 2020 rules came into force on 1 January 2020, and updated the Incoterms® 2010 rules to reflect changes to the market over the last decade. For the FCA Incoterm valid up until that date, see Practice Note: Incoterms® 2010 Rules—FCA Free Carrier [Archived]. FCA (insert named place of delivery) Incoterms® 2020 Explanatory notes for users 1. Delivery and risk ‘Free Carrier (named place)’ means that the seller delivers the goods to the buyer in one or other of two ways: • First, when the named place is the seller’s premises, the goods are delivered ◦ when they are loaded on the means of transport arranged by the buyer

This Practice Note comprises the guidance note to the FOB Free on board Incoterm in the Incoterms® 2020 rules, produced here with the permission of ICC Publishing SA. Incoterms® 2020 rules and other ICC publications are available from ICC Publishing SA, 33-43 avenue du Président Wilson, 75116 Paris, France and from ICC United Kingdom, 1st Floor, 1-3 Staple Inn London, WC1V 7QH, United Kingdom, and www.iccwbo.org. Incoterms® 2020 rules came into force on 1 January 2020, and updated the Incoterms® 2010 rules to reflect changes to the market over the last decade. For the FOB Incoterm valid up until that date, see Practice Note: Incoterms® 2010 Rules—FOB Free on board [Archived]. FOB (insert named port of shipment) Incoterms® 2020 Explanatory notes for users 1. Delivery and risk ‘Free on Board’ means that the seller delivers the goods to the buyer • on board the vessel • nominated by the buyer • at the named port of shipment • or procures the goods already so delivered. The risk of loss of or damage

Article by article comparison of Incoterms® 2020 rules This Practice Note contains an article by article comparison of the Incoterms® 2020 rules, produced here with the permission of ICC Publishing SA. These and other ICC publications are available from ICC Publishing SA, 33-43 avenue du Président Wilson, 75116 Paris, France and from ICC United Kingdom, 1st Floor, 1-3 Staple Inn London, WC1V 7QH, United Kingdom, and www.iccwbo.org. Incoterms® 2020 rules came into force on 1 January 2020, and updated Incoterms® 2010 rules to reflect changes to the market over the last decade. For an introduction on Incoterms® 2010 valid up until that date, see Practice Note: Incoterms® 2010—introduction [Archived]. This Practice Note displays an article by article comparison of the Incoterms® 2020 rules where each article is compared separately across all Incoterms. For a comparison table which considers all of the Incoterms® 2020 articles together, see: and General obligations This table compares the seller’s general obligations under A1 General obligations for each Incoterm and the buyer’s obligations under B1 General obligations for each Incoterm.

This Practice Note comprises the introduction to the Incoterms® 2020 rules produced here with the permission of ICC Publishing SA. Incoterms® 2020 rules and other ICC publications are available from ICC Publishing SA, 33-43 avenue du Président Wilson, 75116 Paris, France and from ICC United Kingdom, 1st Floor, 1-3 Staple Inn London, WC1V 7QH, United Kingdom, and www.iccwbo.org. Incoterms® 2020 rules came into force on 1 January 2020, and updated the Incoterms® 2010 rules to reflect changes to the market over the last decade. For an introduction to the Incoterms® 2010 rules, see Practice Note: Incoterms® 2010—introduction [Archived]. Foreword By John W.H. Denton, AO, ICC Secretary General The growth of the global economy has given most businesses greater access than ever before to markets all over the world. Goods are sold today in more countries, in larger quantities, in greater variety, and at a faster pace as a result. But as both the volume and complexity of global trade increase, so do possibilities for misunderstandings and costly disputes when sale contracts are not adequately drafted. The ICC Incoterms®

The Home Office has published revised Worker and Temporary Worker guidance on 27 April 2026 which confirms that the number of daily sponsor priority change of circumstances slots has increased. The previous guidance said that 'a maximum of 100 priority service requests' will be accepted each day. The new guidance says that 'a minimum of 120' requests will be accepted.

This Practice Note considers the costs that a lender will incur when providing funding to a borrower and the steps that it will take within the facility documentation to ensure that any increase in these costs will ultimately be met by the borrower. It considers those particular costs that a lender will seek to cover through any increased costs clause, as well as the protections that a borrower will seek to negotiate to protect their position. Costs of funding There are a number of costs involved in funding a loan and lenders will normally factor these in when pricing the facility. These will include costs of raising the finance, such as interest payments to depositors, as well as mandatory costs such as Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) fees and any requirement on the bank imposed by the Bank of England to place non-interest bearing deposits with it. In addition, banks are required to maintain a minimum level of regulatory capital—see: Prudential requirements—credit institutions and systemically important investment firms—overview for more information. Banks