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. 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® rules on the use of domestic

This precedent is for use between a processor and sub-processor and assumes the customer (as the original processor) is seeking to flow down terms agreed with a controller entity based on Precedent: Personal data processing schedule—pro-customer—UK GDPR and EU GDPR. For a list of precedent provisions for use between a controller and processor, see: List of data protection clauses and agreements for commercial transactions and personal data processing and sharing. This precedent uses the additional defined terms ‘Agreement’, ‘Business Day’, ‘Customer’, ‘Services’, ‘Supplier’ and ‘Supplier Personnel’, which are unlikely to be specific to this schedule and which it is assumed are separately defined in the relevant agreement. The Schedule Part A: Operative provisions 1 Definitions 1.1 In this Schedule: Applicable EEA Law • means all applicable law(s) of the European Economic Area and European Union and of the relevant member state(s) of either; Applicable UK Law • means all applicable law(s) of the United Kingdom (or of any part of the United Kingdom); Controller • has the meaning given in applicable Data Protection Laws from time to time; Controller Entity • means

This week's edition of Public Law weekly highlights includes expert analysis following the Procurement Act 2023 ‘go-live’ on 24 February 2025, as well as associated updates to the government model contract collections, plus details of the court’s decision in Unipart Group Ltd and another company v Supply Chain Coordination Ltd lifting the automatic suspension in claims brought under PCR 2015. Further case reports include enhanced coverage of N3 v SSHD, in which the Supreme Court ruled on the effect of withdrawn citizenship deprivation orders, plus Court of Appeal decisions on the interpretation of the Gender Recognition Act 2004 and human rights considerations in granting anonymity orders and reporting restrictions. The highlights include further updates on public procurement, Brexit SIs, post-Brexit transition guidance, equality and human rights, constitutional and administrative law, subsidy control and State aid.

PI & Clinical Negligence analysis: The Court of Appeal rejected a claim against a credit card company under section 75 of the Consumer Credit Act 1974 (CCA 1974) which had been brought by a third party beneficiary in a package holiday claim. The claimant’s husband had used his credit card to pay for a deposit for a package holiday with a subsidiary of Thomas Cook. The claimant suffered personal injury on the holiday and sued the tour operator, but the company then entered liquidation. She tried to join the credit card company, arguing that the term ‘debtor’ in CCA 1974, s 75 applied to her as she had a deemed claim in contract against the supplier under the Package Holidays Regulations. The court disagreed with the claimant, and held that the term ‘debtor’ was confined to the individual who was party to the credit agreement. Written by David Juckes, barrister at Hailsham Chambers.

Pensions UK has submitted its response to the Department for Work and Pensions (DWP) consultation on Collective Defined Contribution (CDC) pension schemes, calling for strong regulatory safeguards and alignment with existing frameworks. The organisation states that retirement-only CDC schemes require the same authorisation and supervision standards as whole-life CDC schemes, including a fully developed regulatory framework and robust oversight by the Pensions Regulator (TPR). Pensions UK advocates for integration with Guided Retirement requirements, the evolving Value for Money (VFM) regime, and alignment with Financial Conduct Authority (FCA) decumulation rules for contract-based schemes. The response emphasises the need for clear transfer mechanisms, shared standards for quotations and illustrations, and measures to ensure trustees remain accountable for assessing whether retirement-only CDC offers superior outcomes compared to alternative retirement solutions.

The Department for Energy Security and Net Zero (DESNZ) has published its initial response to the February 2025 consultation on proposed reforms for Allocation Round 7 (AR7) of the Contracts for Difference (CfD) scheme. The response addresses regulatory changes to be implemented before AR7 opens in Summer 2025. These include: (1) amending the budget publication process to allow the Contract Budget Notice to be published later in the allocation round, rather than ten working days before the application window opens; (2) permitting the Secretary of State for Energy Security and Net Zero to request anonymised bid information—such as bid prices and capacities—from the National Energy System Operator before finalising the budget; and (3) amending the Clean Industry Bonus (CIB) regulations to allow CIB costs to be included in the price cap methodology. DESNZ intends to publish a final response focusing on non-legislative reforms before AR7 opens.

The European Parliament has adopted a proposal to revise rules to tackle late payments and boost the competitiveness of companies, mainly smaller companies. The draft Regulation introduces measures to remove ambiguities and legal gaps that have limited the effectiveness Directive 2011/7/EU (the Late Payment Directive). The revision includes stricter maximum payment deadlines of 30 days in both business- to-business (B2B) and government-to-business (G2B) transactions. To ensure more flexibility to negotiate payment terms, MEPs have adopted provisions for a 60-calendar day deadline in B2B transactions, when it is openly agreed in the contract, and for specific retail sector purposes, up to 120 days. Late payments would incur  between €50–150 per transaction (depending on the value) to compensate for the creditor’s own recovery costs. The text also encourages the use of e-tools to help shorten delays and financial literacy trainings for SMEs.

The Pensions and Lifetime Savings Association (PLSA) is recruiting up to five new members for its Policy Board, which shapes the organisation's public policy positions on pensions and lifetime savings. The PLSA is specifically seeking candidates from local authority funds, large master trusts, contract-based defined contribution (DC) schemes, and large defined benefit (DB) or hybrid schemes within its membership. This recruitment follows the completion of terms by some existing members and aims to maintain the Board's diverse expertise. In 2024, the Policy Board tasked the PLSA with making recommendations to the government on encouraging UK investment without compromising pension schemes' fiduciary duties. The Board has also set an agenda for the PLSA to lobby for reforms to enhance the retirement savings system, underscoring the importance of recruiting skilled professionals to represent members' interests in key retirement income issues. The deadline for applications is Friday, 7 February 2025. To find out the criteria for selection and how to apply, visit the PLSA website.

The European Parliament has adopted a reform of the EU's electricity market following a provisional deal it reached with the Council of the EU in December 2023. The law aims to protect consumers against volatile prices and provide them with the right to access fixed-price contracts or dynamic price contracts, and receive important information on the options they sign up to. Suppliers will not be allowed to unilaterally change the terms of a contract. Member States can prohibit suppliers from cutting the electricity supply of vulnerable customers, including during disputes between suppliers and customers. The legislation also provides for Contracts for Difference (CfD), or equivalent schemes to encourage energy investment and will be allowed in all new electricity production investments. The text also sets out a mechanism to declare an electricity price crisis. The Council of the EU must now formally adopt the legislation for it to become law.

The Financial Conduct Authority (FCA) has published a portfolio letter to the claims management sector, setting out its updated view of harms and risks that claims management companies (CMCs) pose, and priority areas for FCA supervision of CMCs. The FCA is encouraged by improving standards but warns of areas where firms are failing to meet regulatory requirements.  The FCA’s supervisory focus for the next two years is on CMCs embedding the Consumer Duty, the service standards provided by CMCs, issues around personal injury, and lead generation. In particular, the FCA warns CMCs to ensure consumers understand the FCA’s temporary changes to handling rules for motor finance complaints, before they enter into a service contract.

The Dubai International Financial Centre (DIFC) Courts has released its annual report for 2023. DIFC reported that the workload of the Court of First Instance, which includes arbitration-related cases, recorded 111 cases with a total case value of AED16.5bn. Courts of First Instance cover a range of sectors and involve disputes related to breaches of contract, insolvency, arbitration agreements and employment. In relation to the Arbitration Division of the DIFC Courts, the total case value was AED 13.4bn with the average case value being AED955.2m. The Chief Justice of the DIFC Courts, Zaki Azmi, said 'the DIFC Courts recorded increases in both the volume and value of cases in almost every instance, a reflection of the continued trust in our forum to solve the region’s diverse range of disputes.'

Restructuring & Insolvency analysis: The Commercial Court held that section 423 of the Insolvency Act 1986 (IA 1986) applied to a €1 transfer of valuable French-listed shares by a Luxembourg bond issuer to a BVI company, notwithstanding the foreign parties and assets, because the English law bond documents provided a sufficient connection with England. The transfer was invalid, at a substantial undervalue and intended to prejudice creditors. The court also found liability for unlawful means conspiracy and inducing breach of contract, holding that an IA 1986, s 423 transaction can itself constitute unlawful means. Practitioners should note that compensation may remain available despite restoration of the asset, alongside tortious and foreign-law remedies against those involved in the dissipation. Produced in partnership with Dale Timson of Enterprise Chambers.