Incoterms Gets an Update for 2020

The International Chamber of Commerce (ICC) has released its updated Incoterms for the coming year. It will go into effect on January 1, 2020. First introduced by the organization in 1936, Incoterms have long since established commonly accepted definitions and rules related to the delivery of goods between global trading partners. It was last updated in 2010, so the new version has substantial changes.

What mostly stayed the same are the Incoterms “rules” (FAS, FCA, CIF, etc.). However, most changes involve the categorizations of transport modes and the modifications to — and reduction of — the services usually listed. After 10 years, there is quite a bit to unravel with the delineation of buyer and seller responsibility. Aeronet Worldwide has been handling freight since 1982, and is well-versed with the ins and outs of Incoterms. To make sense of it all, contact Aeronet Worldwide or reach out to your representative.