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New Incoterms® 2020 take effect January 1, 2020

What changes to expect for Incoterms 2020? Register for upcoming seminars.

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 from the 2010 version.

  • 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.

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