The latest update was carried out in September 2019, following which the ICC released Incoterms 2020. Are you using the best international trade term for your exports? Launched by the International Chamber of Commerce (ICC), the new set of rules entered into force on January 1st, 2020. Includes security-related requirements within carriage obligations and costs. The seller delivers the goods to the carrier or another person nominated by the buyer at the seller’s premises or another named place. The 2020 Incoterms rules make security obligations more prominent; these are covered in A4/A7 in each Incoterm. FREE ALONGSIDE SHIP (FAS) – Seller delivers goods placed alongside a vessel at the named port nominated by the buyer. Because they help importers and exporters around the world to understand their responsibilities and avoid costly misunderstandings, the rules form the language of international sales transactions, and help build confidence in our valuable global trading system.' COST INSURANCE AND FREIGHT (CIF) – Seller delivers the goods on board the vessel. The handy chart can be easily printed and kept as a reference guide. EX-WORKS (EXW) – Seller places goods at the disposal of the buyer at the seller’s premises or another named location. Incoterms 2020 Chart of Responsibilities. We thank you for your on-going partnership. Incoterms® does not constitute a complete contract, but rather become a part of it. > Incoterms® 2020 Chart. Seller assumes responsibility only after all goods are cleared and duties and taxes paid. There is a gap in delivery between FCA and FOB. Denton AO. Even with the current environment, BGI’s innovative team has pulled together our best resources and capabilities to make sure that the entire team is available for you. For a basic understanding of the Incoterms 2020 rules, download the free Chart of Responsibilities and Transfer of Risk. Using the wrong term could mean you are liable for transportation and other fees you hadn’t built into the price of your goods. The seller is also responsible for any and all applicable taxes and duties. These rules are regularly incorporated into contracts and have become part of the daily language of trade between buyers and sellers. There is a change in the three-letter name for Delivered at Terminal (DAT) to Deliver at Place Unloaded (DPU). These came into effect on January 1, 2020. The seller is required to clear goods through export only. Contact Us | 800-987-4244 | Sitio en Español | Hablámos Español 844-244-7244, Get A Quote GLOBAL FREIGHT MANAGEMENT | DOMESTIC FREIGHT MANAGEMENT, Find the latest Incoterms® 2020 chart at the bottom of this page. Download Incoterms® 2020 Highlights in PDF Here, Download Incoterms® 2020 Matrix in PDF Here. The seller contracts to pay for the cost of freight to move the goods to the port of destination. Are you using the best international trade term for your exports? The seller assumes all risks associated with delivering and unloading the goods at the terminal. Download Incoterms 2020 PDF file. The seller bears all costs associated with transport until the goods are alongside the vessel, the buyer assumes risks from that point forward. FCA – Free Carrier. Although the ICC recommends using Incoterms® 2020 beginning January 1, 2020, parties to a sales contract can agree to use any version of Incoterms after 2020. DELIVERED AT TERMINAL (DAT) – Seller delivers and unloads goods at a named terminal. Provides for demonstrated market need concerning bills of lading (BL) with an on-board notation and the Free Carrier (FCA) rule. NEW Incoterms® 2020! DELIVERED AT PLACE UNLOADED (DAP) – Seller pays for carriage to the named place and assumes all risks prior to the point that goods are ready for unloading by the buyer. These eleven rules are organized in a set of three-letter trade terms. The new rules are effective on 1 January 2020. Whether it’s through our Online Tracking and real-time Warehouse Management System to give you visibility to your inventory, pull orders, and schedule deliveries, or to access your customer service team – no matter where they are – we are here. «(the chosen Incoterms ® rule)(named port, place or point) Incoterms 2020» This chart is not intended to be used alone, but always in conjunction with the Incoterms® 2020 rule book. Reach out if we can provide further support! The seller contracts to pay for carriage to the agreed location and cost of insurance.