New Feature of Incoterm 2010

New Features of Incoterms 2010:

• The number of conditions in Incoterms 2010 decreased from 13 to 11:

The four conditions in Incoterms 2000 include DAF, DES, DEQ and DDU are replaced by two new conditions that can be used for all modes of transportation: DAT and DAP.

• Classification of conditions into separate groups (based on the mode of transport applied):

Conditions applicable to all modes of transportation include EXW, FCA, CPT, CIP, DAT, DAP, DDP, which can be used when there is no shipping or when part of the journey is carried out by ship.

• Conditions apply only to inland and inland waterway transport including FAS, FOB, CFR and CIF. Every mention of the ship's railing as a delivery point has been eliminated. Instead, the cargo was deemed delivered when it was loaded onto the ship.

• Incoterms can be used for international and domestic sales contracts:

Traditionally, Incoterms conditions are commonly used in international sales contracts, as the movement of goods across national boundaries. However, in many parts of the world, the development of trade blocs (such as the European Union) has made the procedures at the border between nations no longer important. Therefore, the subhead of the 2010 Incoterms has officially confirmed that they can be used for both international and domestic sales contracts. Therefore, the conditions of the 2010 Incoterms indicate that the import / export clearance obligation exists only when applicable.

• Regulations on electronic information exchange:

Previous versions of the Incoterms indicated that the documents could be replaced by electronic data messages.

In Incoterms 2010, items A1 / B1 allow for the electronic exchange of information to be equivalent to the exchange of paper information, as long as agreed or customary by the parties.

• Insurance regulations:

Incoterms 2010 is the first version of a commercial condition since the terms of the insurance cover have been revised and have taken into account changes in these conditions.

In Incoterms 2000, the obligations relating to insurance-related information mentioned in Section A10 / B10 are relatively common. Incoterms 2010 has shifted its insurance-related obligations to A3 / B3 items (clauses of contract of carriage and insurance) with revised terms to clarify the obligations of the parties. this.

• Regulations on security procedures and information needed to complete the procedures:

In Incoterms 2010, in sections A2 / B2 and A10 / B10 of many conditions, there is a division of obligations between buyers and sellers on the receipt of assistance to complete security procedures (eg information on regulations custody, preservation of goods).