Incoterms 2020 versus Incoterms 2010

Incoterms 2020 was published on 10 September 2019 and came into force on 1st January 2020

The text (ICC Publication 723) can be obtained from various ICC online book stores.

Although the layout of the text is very different from Incoterms 2010, there are very few substantive changes to the meaning of the rules.

The two most important changes are these:

• The rule DAT Delivered at Terminal (DAT) has been renamed Delivered at Place Unloaded (DPU)
• For Carriage and Insurance Paid (CIP), the level of freight insurance provided is now Institute Clauses (A), and not the lower level Institute Clauses (C).   For Cost Insurance and Freight (CIF), the level of freight insurance provided has remained unchanged at Institute Clauses (C)

Click here for more information on freight insurance

For a full list of the Incoterms 2020 changes, follow this link

Unless otherwise stated, the rule summaries on this site apply to both Incoterms 2010 and Incoterms 2020

Incoterms 2020 online course now available

What to do after 1 January 2020

There is no obligation to adopt Incoterms 2020

Trading partners will be free to incorporate Incoterms 2010 (or indeed any earlier revision) into their commercial agreements, but they must be sure to specify which revision should apply.