A PRACTICAL OVERVIEW OF ICC INCOTERMS 2020

On 18th October, Clyde & Co provided a briefing about Incoterms 2020, the 9th version of the Incoterm Rules on domestic and international trade, which will enter into effect on 1st January.  It article highlights the main changes made by the International Chamber of Commerce and aims to provide practical advice to sellers and buyers wishing to incorporate the new terms into their sale and purchase agreements.  It says that the aim of the Rules is to provide a standard set of terms that clearly define the obligations of the seller and the buyer.  The ICC’s stated aim is to increase the parties’ understanding of their respective positions thereby reducing the potential for disputes, whilst accommodating current industry concerns.

https://www.clydeco.com/insight/article/a-practical-overview-of-icc-incoterms-2020

This blog is primarily for my own use, to keep informed and up to date. However, if you would like to say thank you (and perhaps help me get a new, better laptop when I am away…) you can “buy me a coffee” at https://www.buymeacoffee.com/KoIvM842y

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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