Incoterms® 2020

Incoterms® 2020
ICC Official Rules for the Interpretation of Trade Terms

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The first Incoterms® rules were released in 1936 by the International Chamber of Commerce.  They caused a sensation in the business world by bringing coherence to a commercial and judicial system that changed from country to country. ICC’s Incoterms® help traders avoid misunderstandings and disputes by clarifying the costs, risks, and the allocation of certain responsibilities of buyers and sellers in contracts for the sale of goods.

Incoterms® 2020 continues an 80-year ICC tradition and reflects the latest developments in commercial practice and updates, and consolidates some of the former rules. Changes made to the rules have been made to adapt the terms to new developments in world trade.

The updated Incoterms® 2020 will be released in Fall 2019, with implementation starting on January 1, 2020.

More details to come.

Incoterms® 2020

Staff Contact:   Kristen Bauer

Digital Marketing and Trade Services Manager
Tel: 212.703.5074

Kristen Bauer manages USCIB’s digital marketing strategies along with web design and SEO work on the Business for 2030 platform and the International Business Bookstore. Bauer has worked at USCIB since she first started as an intern her junior year of college. She started in the Trade Services department and now works in Business Development. She is a graduate of Fordham University where she graduated with a double Bachelor’s in International Political Economy and Anthropology.

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