Posted 19 Oct 2010 03:00
please note that there will be some changes in INCOTERMS, coming to effect from 1st January next year.
In a short way the changes are following:
- the number of INCOTERMS clauses will be 11 instead of 13.
- there are 2 categories, multimodal (EXW, FCA, CPT, CIP, DAT, DAP, DDP) and sea/waterway (FAS, FOB, CFR, CIF).
- DEQ, DAF, DES and DDU are replaced by DAT (Delivered At Terminal) and DAP (Delivered At Place) clauses.
- at the clauses FOB, CFR and CIF, the goods are considered delivered when on board of the ship rather than passing over the ship's rails (particularly important in respect of the insurance risk).
For more details you may want to inform yourself at the ICC or the offices of international forwarders.
Hope it helps!