INCOTERMS-2020

ICC 11 rules for international sales 2020.

Definition

Incoterms 2020: 7 multimodal (EXW, FCA, CPT, CIP, DAP, DPU, DDP) + 4 maritime (FAS, FOB, CFR, CIF). 2010 → 2020 differences: DAT renamed DPU, CIP requires Institute Cargo Clauses (A) ALL RISKS instead of (C). 10-year revision cycle.

Origin

Incoterms 1936 (v1) ; revisions 1953, 1967, 1976, 1980, 1990, 2000, 2010, 2020 ; v2030 expected.

Example in context

A France ↔ Japan Sony contract stipulates "FCA Sceaux Incoterms 2020" — seller delivers goods to carrier at Sceaux, buyer pays transport and bears risk from truck loading.

Related terms

• FOB — maritime incoterm.