Incoterms 2020

27.01.2020

On September 10, 2019, the newest, ninth edition of the Incoterms 2020 rules was published, which started working on January 1st, 2020. The new Incoterms 2020 rules were developed in the International chamber of Commerce by a Committee of experts to review the current Incoterms 2010 rules in order to simplify them as much as possible and to remove unnecessary supply bases that may cause confusion and misunderstanding in use of trade terms, and to clarify more clearly all terms of delivery for exporters and importers all around the world.

International Incoterms 2020 rules can be applied from January 1st, 2020, but you can also continue using Incoterms 2010 rules, or Incoterms 2000 rules, and even earlier versions of Incoterms. Therefore, in international sales contracts, when specifying the delivery terms, you should specify the exact version of Incoterms.