New Incoterms® 2020 take effect January 1, 2020 The DSV Panalpina Group is not the beneficial owner of the Incoterms® trademark. Incoterms® is a registered trademark of the International Chamber of Commerce. Further details and the official text relating to Incoterms® rules can be found at the official International Chamber of Commerce (ICC) website. Download the Incoterms® 2020 mobile application The latest update to the Incoterms® rules, the world’s essential terms of trade, was recently announced. There are two key changes to Incoterms® 2020 DAT (Delivered at Terminal) is renamed Delivered at Place Unloaded (DPU) FCA (Free Carrier) now allows for Bills of Lading to be issued after loading Some other key changes include: CIF (Cost, Insurance and Freight) and CIP (Carriage and Insurance Paid to) set new standard insurance arrangements, although the level of insurance continues to be negotiable between buyer and seller Cost allocation between buyer and seller is more precisely stated where applicable FCA (Free Carrier), DAP (Delivered at Place), DPU (Delivered at Place Unloaded), and DDP (Delivery Duty Paid) now take account of buyer and seller arranging their own transport rather than using a third party Security-related obligations are now more prominent “Explanatory Notes for Users” for each Incoterm® have replaced the 2010 edition’s Guidance Notes and are designed to be easier for users Copies of Incoterms 2020 can be ordered through the ICC and are available online at www.iccwbo.org For more information please contact your local DSV representatives. DSV will continue to explore the updates in depth and will update our customers whenever necessary. Please be sure you are subscribed to our newsletter for important updates.