Incoterms 2020: Overview
Download our one-pager for an easy overview of the new International Commercial Terms.
The Incoterms 2020 have become effective as of January 1, 2020, bringing five major changes:
- DAT (Delivered at Terminal) has been renamed to DPU (Delivered at Place Unloaded) to include delivery to a different place.
- The Incoterms 2020 demand different levels of insurance for CIF (Cost, Insurance and Freight) and CIP (Carriage and Insurance Paid to). The minimum level for CIP has been raised from Clause C to Clause A (Institute of Cargo Clauses).
- In FCA (Free Carrier), the buyer can now instruct the carrier to issue an on-board bill of lading to the seller.
- FCA, DAP, DPU and DDP now allow for transport with the buyer’s or seller’s own means of transport.
- The Incoterms 2020 includes a precise allocation of the relevant security requirements between buyer and seller, including the associated costs.
For an easy overview, download our one-pager: Incoterms 2020
If you have any questions, please do not hesitate to get in touch with your cargo-partner contact person.