Incoterms® 2020
An overview of the most important delivery terms.
Incoterms® 2020:
What you need to know as a buyer/seller*
The updated Incoterms® 2020 rules came into effect on January 1, 2020. The International Chamber of Commerce (ICC) aims to facilitate access to Incoterms® 2020, and the updated rules define who is responsible for the costs and risks associated with the delivery of goods between the seller and the buyer. As a buyer/seller, you should review and determine which Incoterms® your company typically uses, and once you know, check whether they are consistent with the changes introduced by the 2020 terms and how they might affect your shipments. The updated Incoterms® 2020 rules came into effect on January 1, 2020. The International Chamber of Commerce (ICC) aims to make Incoterms® 2020 easier to access, and the updated rules define who is responsible for the costs and risks associated with the delivery of goods between the seller and the buyer. As a buyer/seller, you should review and determine which Incoterms® your company typically uses, and once you know, check whether they are consistent with the changes introduced by the 2020 terms and how they might affect your shipping.
Please note that the old versions do not lose their validity when a new version is published. The decisive factor here is what has been stipulated in the purchase agreement. The version used only loses its validity if it is replaced by a new provision in the purchase agreement. The International Chamber of Commerce strongly advises against using old versions and making individual changes to the respective versions.
Individual consulting and seminars on Incoterms® 2020
Incoterms® have been an important cornerstone for quotations and contract conclusions in international trade for many years. Their correct application has a significant impact on the success of export and import transactions. If you require individual advice and would like to train your staff in your company, please contact us. We will be happy to provide you with a customized quote for an in-house seminar.
During the seminar, we will focus intensively on your needs and use practical examples to discuss problems and solutions together. The training will be conducted by an accredited Incoterms® trainer with many years of experience in international trade and logistics.
Bernhard Meindorfer
Management / Authorized signatory
Phone: +49 (0) 89 863 003 - 40
Telefax: +49 (0) 89 863 003 - 42
Mail: meindorfer@linther.de
* The Incoterms® rules are copyrighted and owned by the ICC. Further information on the Incoterms® rules can be found on the ICC website. Incoterms® and the Incoterms® 2020 logo are trademarks of the ICC. This document is provided to our customers for informational purposes only. A complete and detailed description of all rights and obligations arising from the use of the above Incoterms® can be found in the official ICC text.
All information is provided without guarantee. For details, see Incoterms® 2020. The use of these trademarks does not imply any connection with, approval by, or sponsorship by the ICC, unless expressly stated above.
