Revised Incoterms take effect from Jan

The latest revision retains the 11 delivery terms in the current Incoterms 2010 version. The only change being that Delivery at Terminal is being replaced with Delivery at Place Unloaded

Last month, the International Chamber of Commerce (ICC) launched Incoterms 2020, the revised trade terms for delivery of goods by traders worldwide. These take effect from the beginning of next year. The new rules are easier to understand, with more detailed explanatory notes, helpful explanations on how to choose the most appropriate rule for a given transaction and enhanced graphics to illustrate the responsibilities of buyers and sellers. 

ICC first introduced the International Commercial Terms, ie Incoterms, in 1936 to establish commonly accepted definitions and rules related to the delivery of goods between trading partners. These were revised periodically to reflect