Incoterms® 2020 presentation in Lima

On 7th November 2019, I had the pleasure of addressing members of ADEX, the Association of Peruvian Exporters, in Lima, on behalf of ICC Academy to talk about the contribution of the Incoterms® to global trade and present the Incoterms® 2020 Certificate (INCO).
The Incoterms® 2020, published by the International Chamber of Commerce will come into effect on 1st January 2020 and this revision includes:

  • more detailed explanatory notes and a more detailed explanation on how to choose the most appropriate Incoterms® rule; 
  • on-board notation and the Free Carrier (FCA) Incoterms® rule;
  • different levels of insurance coverage in Cost Insurance and Freight (CIF) and Carriage and Insurance Paid To (CIP);
  • arrangements for carriage with own means of transport in FCA, Delivered at Place (DAP), Delivered at Place Unloaded (DPU), and Delivered Duty Paid (DDP);
  • change in the three-letter name for Delivered at Terminal (DAT) to DPU; and
  • security-related requirements within carriage obligations and costs.

You can watch the presentation here.

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