Incoterms® 2020, revolution or consolidation?

February 15, 2022

The International Chamber of Commerce (ICC) brochure Incoterms® 2020 - ICC Publication No. 723EF was released in September 2019 and went into effect on January 1, 2020.

Incoterms® are the official ICC rules defining the obligations of the seller and the buyer in the sale of goods, whether international or domestic.

They are of interest to both buyers and sellers, but are also of major interest to all parties involved in a commercial transaction: transport professionals, insurers and banks, particularly in the context of documentary credit and collection operations.

Why a revision? What changes between Incoterms® 2010 and 2020? The substantial differences between Incoterms® 2010 and 2020...