Summary:Incoterms® 2010 were launched in mid-September 2010 and came into effect on 1 January 2011
The Incoterms® rules are an internationally recognized
standard and are used worldwide in international and domestic contracts for the
sale of goods. First published in 1936, Incoterms® rules provide
internationally accepted definitions and rules of interpretation for most
common commercial terms.
The rules have been developed and maintained by experts and
practitioners brought together by ICC and have become the standard in
international business rules setting. They help traders avoid costly
misunderstandings by clarifying the tasks, costs and risks involved in the
delivery of goods from sellers to buyers. Incoterms® rules are recognized by
UNCITRAL as the global standard for the interpretation of the most common terms
in foreign trade.
Please note that all contracts made under INCOTERMS®
2000 remain valid even after 2011. Moreover, although we recommend
using Incoterms® 2010 after 2011, parties to a contract for the sale of goods
can agree to choose any version of the Incoterms rules after 2011. It is important
however to clearly specify the chosen version INCOTERMS® 2010, INCOTERMS® 2000
or any earlier version.