ICC has published Incoterms 2010. What are changes? Can some have Idea
regards
nayan
Incoterms 2010
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nayanrshah
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- First Name: Nayan
- Last Name: Shah CDCS
- Organization: YES BANK
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iLC
- Posts: 504
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not much
sorry...not much idea on this issue. but i have heard that we will have fewer than 13 incoterms. some will be new. presentation will of course be very different. you may check
http://www.tolee.com/html/incoterms_2010_draft3.htm
there are some comments there
http://www.tolee.com/html/incoterms_2010_draft3.htm
there are some comments there
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berry
- Posts: 329
- Joined: Fri Nov 07, 2008 11:36 pm
changes
INCOTERM 2010 has two main changes. one; its going to be 11 and two, there will be 2 new terms DAP (Delivery at place) and DAT(Delivery at terminal).
all other D category term, except DDP is removed. thus at D category, there will be 3 terms only.
besides, here is something that i found on net
DELIVERY: In Incoterms® the word ‘delivery’ represents the final obligation of the Seller to the Buyer – in essence, the end of the contract. Incoterms® 2010 will aim to bring more certainty to this part of each definition.
SECURITY: Incoterms® 2010 will make specific provision for the division of responsibilities and risk with regard to cargo security and compliance with ruling regulations in light of the changing conditions since ‘9/11’.
MONO MODAL v “OMNI MODAL” TERMS: Incoterms® 2010 will be presented in two parts (which we will refer to here as Part 1 and Part 2). Part 1 would deal with the Multi-Modal terms EXW, FCA, CPT/CIP, DAT, DAP and DDP (each of which 2010 may or may not be referring to as being ‘omni-modal’); whereas Part 2 would deal with the traditional Sea and/or Inland Waterway terms FAS, FOB, CFR and CIF. The ‘modern’ trader, only using the first section may then ‘avoid’ the traditional terms simply by virtue of never making reference to the 'traditional' section, and vice versa.
all other D category term, except DDP is removed. thus at D category, there will be 3 terms only.
besides, here is something that i found on net
DELIVERY: In Incoterms® the word ‘delivery’ represents the final obligation of the Seller to the Buyer – in essence, the end of the contract. Incoterms® 2010 will aim to bring more certainty to this part of each definition.
SECURITY: Incoterms® 2010 will make specific provision for the division of responsibilities and risk with regard to cargo security and compliance with ruling regulations in light of the changing conditions since ‘9/11’.
MONO MODAL v “OMNI MODAL” TERMS: Incoterms® 2010 will be presented in two parts (which we will refer to here as Part 1 and Part 2). Part 1 would deal with the Multi-Modal terms EXW, FCA, CPT/CIP, DAT, DAP and DDP (each of which 2010 may or may not be referring to as being ‘omni-modal’); whereas Part 2 would deal with the traditional Sea and/or Inland Waterway terms FAS, FOB, CFR and CIF. The ‘modern’ trader, only using the first section may then ‘avoid’ the traditional terms simply by virtue of never making reference to the 'traditional' section, and vice versa.