NEWS

Main news of the Incoterms 2020

The Incoterms 2020 set the basic rules of foreign trade between buyer and seller of a merchandise, and therefore, it is a key factor the support and advices from forwarding companies. 
 
From Lamaignere we want to inform to our customers about main news of the modifications that have occurred in the Incoterms and that will take effect as from January 1th of 2020:
 
  • The DAT (Delivery at Terminal) incoterm is renamed DPU (Delivery at place Unloaded).
  • Modifications in the incoterms of group C.
  • New provisions appear in the articles with the distribution of obligations and costs.
  • When the means of payment / payment is a documentary credit, and the Incoterm agreed to an FCA (free Carrier), the delivery of the Bill of Landing (On board) by the seller to the buyer may be required in the condition of the LC.
  • For transport of group E or F the possibility is incorporated that the buyer facilitates his own means of transport, without the existence of any transport contract.
We enclose in this link an image (summary table) of the new rules.
 
In any case, our operational and commercial team is at your disposal to give you any other details that may condition the transit of the merchandise with these modifications that will come in the coming weeks.
 

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