The International Chamber of Commerce has released the Incoterms® 2020 Rules.
Incoterms® 2020 Rules have been in use for over 80 years to facilitate international trade by providing businesses with international recognised trading terms designed to provide certainty and clarity on all aspects of cross-border sales.
Incoterms® 2020 Rules regulations define the responsibilities of buyers and sellers operating in the international trade system. They are the authoritative terms for determining the risk and responsibilities each party has for a shipment.
Incoterms® 2020 Rules will replace the 2010 version, as part of the ICC’s on-going programme to ensure that Incoterms® 2020 Rules are kept up-to-date and reflect current trade practices and developments in commerce.
The 2020 edition, will particularly focused on ensuring more businesses can easily access the rules, assisting companies to operate safely.
If companies use the wrong ICC Incoterm when trading goods worldwide, it exposes them to greater risk and cost in the form of delivery and payment problems, unanticipated disputes and where responsibility lies in the event of loss, damage or any other mishap.
This is why it is so important to understand ICC Incoterms® 2020 Rules and use them correctly, to ensure companies can trade with one another safe in the knowledge they are following international best practice.
To ensure businesses do not make costly mistakes, the Chamber has planned a series of refresher courses for companies keen to learn about the changes and gain early access to how Incoterms® 2020 Rules should be adopted.
Course dates are:
In-house options are available for teams involved in sales, purchasing, finance and logistics.
Further information available from Nicola Trippier, t: 01254 356450, email@example.com