{"id":11183,"date":"2024-01-01T13:00:00","date_gmt":"2024-01-01T13:00:00","guid":{"rendered":"https:\/\/www.tradefinanceglobal.com\/?page_id=11183"},"modified":"2025-02-21T08:29:45","modified_gmt":"2025-02-21T08:29:45","slug":"incoterms","status":"publish","type":"page","link":"https:\/\/www.tradefinanceglobal.com\/incoterms\/","title":{"rendered":"A complete guide to the Incoterms\u00ae 2020 Rules (International Commerce Terms)"},"content":{"rendered":"\n<div class=\"wp-block-columns container w-auto is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:33.33%\">\n<p><\/p>\n\n\n<div class=\"block-header-without-image d-flex flex-direction-column justify-content-center\">\n    <h2 class=\"fs-32 fw-700 fs-xs-28 not-for-table-content\" id=\"heading-a-complete-guide-to-the-incoterms-2020-rules-international-commerce-terms\">\n        A complete guide to the Incoterms\u00ae 2020 Rules (International Commerce Terms)    <\/h2>\n    <div class=\"d-grid grid-col-2 grid-col-xs-1\">\n                            <div class=\"\">\n                <div>Last updated on 21 Feb 2025<\/div>\n                <div>01 Jan 2024 . 9 min read<\/div>\n            <\/div>\n            <\/div>\n    <\/div><\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:66.66%\"><figure class=\"wp-block-post-featured-image\"><img loading=\"lazy\" decoding=\"async\" width=\"869\" height=\"352\" src=\"https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/A-complete-guide-to-the-Incoterms\u00ae-2020-Rules-International-Commerce-Terms-1.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" style=\"object-fit:cover;\" srcset=\"https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/A-complete-guide-to-the-Incoterms\u00ae-2020-Rules-International-Commerce-Terms-1.jpg 869w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/A-complete-guide-to-the-Incoterms\u00ae-2020-Rules-International-Commerce-Terms-1-300x122.jpg 300w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/A-complete-guide-to-the-Incoterms\u00ae-2020-Rules-International-Commerce-Terms-1-768x311.jpg 768w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/A-complete-guide-to-the-Incoterms\u00ae-2020-Rules-International-Commerce-Terms-1-320x130.jpg 320w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/A-complete-guide-to-the-Incoterms\u00ae-2020-Rules-International-Commerce-Terms-1-370x150.jpg 370w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/A-complete-guide-to-the-Incoterms\u00ae-2020-Rules-International-Commerce-Terms-1-414x168.jpg 414w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/A-complete-guide-to-the-Incoterms\u00ae-2020-Rules-International-Commerce-Terms-1-600x243.jpg 600w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/A-complete-guide-to-the-Incoterms\u00ae-2020-Rules-International-Commerce-Terms-1-372x151.jpg 372w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/A-complete-guide-to-the-Incoterms\u00ae-2020-Rules-International-Commerce-Terms-1-450x182.jpg 450w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/A-complete-guide-to-the-Incoterms\u00ae-2020-Rules-International-Commerce-Terms-1-380x154.jpg 380w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/A-complete-guide-to-the-Incoterms\u00ae-2020-Rules-International-Commerce-Terms-1-285x115.jpg 285w\" sizes=\"auto, (max-width: 869px) 100vw, 869px\" \/><\/figure><\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-columns are-vertically-aligned-top container w-auto is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-vertically-aligned-top is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:100%\"><div class=\"block-buttons bg-anti-flash-white rounded p-24 h-100 xs-h-auto\" style=\"background-color: #f2f5f7 !important;\">\n  <div class=\"d-grid grid-col-1 grid-col-xs-1 mb-12\">\n    <h4 class=\"not-for-table-content fs-24 fw-700\" id=\"heading-incoterm-basics\">Incoterm Basics<\/h4>\n  <\/div>\n  <div>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/incoterms\/\">\n        Introduction to Incoterms      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/incoterms\/ex-works-exw\/\">\n        EXW      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/incoterms\/fca-free-carrier\/\">\n        FCA      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/incoterms\/resource-centre\/\">\n        TFG Incoterms Resource Centre      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/incoterms\/cpt-carriage-paid-to\/\">\n        CPT      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/incoterms\/cip-carriage-insurance-paid-to\/\">\n        CIP      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/incoterms\/dap-delivery-at-place\/\">\n        DAP      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/incoterms\/dpu-delivered-at-place-unloaded\/\">\n        DPU      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/incoterms\/ddp-delivery-duty-paid\/\">\n        DDP      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/incoterms\/fas-free-alongside-ship\/\">\n        FAS      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/fob-price-free-on-board-meaning\/\">\n        FOB      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/incoterms\/cfr-cost-and-freight-shipping-meaning\/\">\n        CFR      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/incoterms\/cif-price-cost-insurance-and-freight\/\">\n        CIF      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/incoterms\/courses\/\">\n        Incoterms Courses      <\/a>\n      <\/div>\n<\/div><\/div>\n<\/div>\n\n\n\n<p><\/p>\n\n\n\n<div class=\"wp-block-columns container w-auto is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:33.33%\"><div class=\"bg-light-blue d-flex gap-16 h-auto p-16 rounded xs-flex-direction-column\">\n    <div class=\"\">\n    <img decoding=\"async\" style=\"min-width:100px;max-width: 150px\" src=\"https:\/\/secure.gravatar.com\/avatar\/c11ad763fecbdc3dbb27996f2d96929c?s=160&#038;d=mm&#038;r=g\" class=\"w-100 rounded\">\n  <\/div>\n  <div class=\"col-span-2 col-span-xs-1\">\n    <div class=\"d-flex flex-direction-column gap-16 fs-16 justify-content-between\">\n      <div class=\"fs-16 fw-700\">Bob Ronai<\/div>\n      <div class=\"fs-14 fw-400 elipsise-2-line\" title=\"Bob\u2019s background in exporting and importing stretches over more than 50 years,\u00a0initially in international banking then in the world of international commerce.\">\n        Bob\u2019s background in exporting and importing stretches over more than 50 years,\u00a0initially in international banking then in the world of international commerce.      <\/div>\n      <div>\n        <a class=\"text-black fs-12 small-link-arrow-right\" href=\"https:\/\/www.tradefinanceglobal.com\/posts\/?author=160\">\n          <span>\n            Latest Post          <\/span>\n        <\/a>\n      <\/div>\n    <\/div>\n  <\/div>\n<\/div>\n\n\n<p><\/p>\n\n\n<div class=\"block-cta p-24 h-auto rounded\">\n    <h4 id=\"heading-quick-guide-to-incoterms\" class=\"fs-24 fw-700 elipsise-2-line dark:color-white not-for-table-content\">\n    Quick guide to Incoterms  <\/h4>\n  <p class=\"fs-16 fw-400 dark:color-white\">Download our free short guide<\/p>\n  <div class=\"mb-20\">\n    <img loading='lazy' alt='Short-Incoterms-Guide-724&#215;1024' style='width:auto; height:200px'  width='auto' height='auto' src='https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/07\/Short-Incoterms-Guide-724x1024-1-150x150.jpg' srcset='https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/07\/Short-Incoterms-Guide-724x1024-1-212x300.jpg 212w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/07\/Short-Incoterms-Guide-724x1024-1-320x453.jpg 320w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/07\/Short-Incoterms-Guide-724x1024-1-370x523.jpg 370w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/07\/Short-Incoterms-Guide-724x1024-1-414x586.jpg 414w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/07\/Short-Incoterms-Guide-724x1024-1-141x200.jpg 141w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/07\/Short-Incoterms-Guide-724x1024-1-177x250.jpg 177w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/07\/Short-Incoterms-Guide-724x1024-1-115x162.jpg 115w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/07\/Short-Incoterms-Guide-724x1024-1-112x159.jpg 112w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/07\/Short-Incoterms-Guide-724x1024-1-87x123.jpg 87w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/07\/Short-Incoterms-Guide-724x1024-1-134x190.jpg 134w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/07\/Short-Incoterms-Guide-724x1024-1.jpg 724w' \/>  <\/div>\n        <a href=\"https:\/\/www.tradefinanceglobal.com\/editions\/incoterms-short-guide-2020\/\"  class=\"dark:text-black px-16 py-8 rounded bg-black text-white fs-14 fw-700 dark:bg-tale\">\n      <span>Download now<\/span>\n    <\/a>\n  <\/div>\n\n<div class=\"block-cta p-24 h-auto rounded\">\n    <h4 id=\"heading-full-incoterms-guide\" class=\"fs-24 fw-700 elipsise-2-line dark:color-white not-for-table-content\">\n    Full Incoterms Guide  <\/h4>\n  <p class=\"fs-16 fw-400 dark:color-white\">Buy our 96 page guide<\/p>\n  <div class=\"mb-20\">\n    <img loading='lazy' alt='full incoterms commentary' style='width:auto; height:200px'  width='auto' height='auto' src='https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/08\/full-incoterms-commentary-gudie.jpeg-150x150.webp' srcset='https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/08\/full-incoterms-commentary-gudie.jpeg-212x300.webp 212w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/08\/full-incoterms-commentary-gudie.jpeg-724x1024.webp 724w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/08\/full-incoterms-commentary-gudie.jpeg-768x1086.webp 768w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/08\/full-incoterms-commentary-gudie.jpeg-320x453.webp 320w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/08\/full-incoterms-commentary-gudie.jpeg-370x523.webp 370w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/08\/full-incoterms-commentary-gudie.jpeg-414x586.webp 414w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/08\/full-incoterms-commentary-gudie.jpeg-141x200.webp 141w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/08\/full-incoterms-commentary-gudie.jpeg-177x250.webp 177w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/08\/full-incoterms-commentary-gudie.jpeg-115x162.webp 115w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/08\/full-incoterms-commentary-gudie.jpeg-112x159.webp 112w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/08\/full-incoterms-commentary-gudie.jpeg-87x123.webp 87w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/08\/full-incoterms-commentary-gudie.jpeg-134x190.webp 134w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/08\/full-incoterms-commentary-gudie.jpeg.webp 1086w' \/>  <\/div>\n        <a href=\"https:\/\/www.tradefinanceglobal.com\/incoterms\/resource-centre\/buy-book\/\"  class=\"dark:text-black px-16 py-8 rounded bg-black text-white fs-14 fw-700 dark:bg-tale\">\n      <span>Purchase<\/span>\n    <\/a>\n  <\/div>\n\n\n<h2 class=\"wp-block-heading\" id=\"h-contents\">Contents<\/h2>\n\n\n<div class=\"block-table-content h-auto bg-white auto\">\n    <ul class=\"table-content\"><\/ul><\/div>\n\n\n<p><\/p>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:66.66%\">\n<h2 class=\"wp-block-heading\" id=\"h-what-are-incoterms\">What are Incoterms?<\/h2>\n\n\n\n<p class=\"bg-tale rounded p-24 h-auto\" style=\"font-size:16px\">Incoterms, short for International Commerce Terms, represent a standardized set of terminology universally recognized in the field of freight forwarding. Established by the International Chamber of Commerce (ICC) in 1936, these terms define crucial aspects of international trade. Our concise guide summarises the 11 revised Incoterms for 2020 (as defined by the ICC Incoterms Drafting Committee).<\/p>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-introduction-to-incoterms-rules\">Introduction to Incoterms Rules<\/h2>\n\n\n\n<p style=\"font-size:16px\">Incoterms 2020 Rules play a key role for anyone engaged in the global supply chain, including traders, producers, buyers, sellers, governments, and banks.<\/p>\n\n\n\n<p style=\"font-size:16px\">The language established by Incoterms guidance covers critical areas of international commerce, encompassing tasks in&nbsp;<a href=\"https:\/\/www.tradefinanceglobal.com\/freight-forwarding\/shipping-management-software\/\">shipping<\/a>, contractual parties, risk responsibilities, goods delivery, insurance duties, and customs and taxes.<\/p>\n\n\n\n<p style=\"font-size:16px\">The main purpose of Incoterms is to provide a&nbsp;<strong>uniform, constant and authentic interpretation of the commercial terms of delivery of goods<\/strong>, most frequently used in International transactions, and, by means of their application, removing any uncertainty due to divergent interpretations.<\/p>\n\n\n\n<p style=\"font-size:16px\">By providing a uniform framework, Incoterms facilitate fair cost and risk sharing among operators from different countries with distinct legislations.<\/p>\n\n\n\n<p style=\"font-size:16px\">The application of Incoterms is discretionary, requiring mutual agreement between parties in advance through specific contract mentions.<\/p>\n\n\n\n<p><\/p>\n\n\n<div class=\"block-content align bg-anti-flash-white rounded p-24 h-auto fs-16 wp-block-acf-block-content\"style=\"background-color: ;color: #002F4D;\"\n>\n    <p>The four key\u00a0<strong>\u201cmoments\u201d<\/strong>\u00a0identified for Incoterms\u2019 action and function include determining:<\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li>Who pays for the main transport?<\/li>\n<li>Where does the delivery take place?<\/li>\n<li>Where and when the risk is transferred from the Seller to the Buyer?<\/li>\n<li>Who bears all the fees arising from transport (i.e. issue of documents, unloading of goods at destination, customs clearance when necessary, insurance of goods etc.)<\/li>\n<\/ul>\n<\/div>\n\n\n<p style=\"font-size:16px\"><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-incoterms-2020-7-key-changes-updates\">Incoterms 2020 \u2013 7 Key Changes &amp; Updates<\/h2>\n\n\n\n<p style=\"font-size:16px\">Incoterms 2020 introduces seven key changes and updates. While the fundamental substance remains consistent, these subtle adjustments are important for trade specialists to understand.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-here-are-the-key-differences-between-incoterms-2010-and-incoterms-2020\"><strong>Here are the key differences between Incoterms 2010 and Incoterms 2020:<\/strong><\/h3>\n\n\n\n<p><\/p>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"h-1-dat-incoterm-changed-to-dpu-delivery-at-place-unloaded\">1. DAT Incoterm changed to DPU (Delivery at Place Unloaded)<\/h4>\n\n\n\n<p style=\"font-size:16px\">After several rounds of consultation, the Drafting Group removed the word&nbsp;<em>\u2019terminal\u2019<\/em>&nbsp;as it often caused confusion, and so changed to&nbsp;<em>\u2018place unloaded\u2019<\/em>. As such, it was decided to change the term to DPU (Delivery at Place Unloaded), to broadly cover \u2018any place, whether covered or not\u2019.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"h-2-insurance-cover-differs-between-cif-and-cip\">2. Insurance cover differs between CIF and CIP<\/h4>\n\n\n\n<p style=\"font-size:16px\">Under CIF \/ CIP, the seller buys insurance for the buyer. In Incoterms\u00ae 2010, insurance is required under Cargo Clause (C), but in Incoterms\u00ae 2020, CIP requires insurance complying with Institute Cargo Clause (A).<\/p>\n\n\n\n<p style=\"font-size:16px\"><strong><em>Why the change in clauses?<\/em><\/strong>&nbsp;Clause A covers a more comprehensive higher level of insurance (e.g. for the manufactured goods), whereas a lower level of cover from Clause C would more likely apply to the commodities world.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"h-3-the-listing-of-costs\">3. The Listing of Costs<\/h4>\n\n\n\n<p style=\"font-size:16px\">All costs are now listed in the&nbsp;<em>\u2018Allocation of Costs\u2019<\/em>&nbsp;sections for each rule, to avoid confusions. These now appear in the A9\/B9 section of each rule (as the ordering of articles within the Incoterms 2020 rules has changed).<\/p>\n\n\n\n<p style=\"font-size:16px\">In the 2010 Incoterms\u00ae, costs were a key issue. Carriers often changed their pricing structure to deal with add ons and sellers were often surprised by being back charged terminal handling charges.<br><br>The A9 sections in the Incoterms rules guide now collects together the costs, with the principle aim of clearly stating the costs to each party.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"h-4-security-requirements\">4. Security Requirements<\/h4>\n\n\n\n<p style=\"font-size:16px\">Cargo security has been particularly important since 9\/11, and the 2020 rules now address many of the security-related requirements that became so prevalent in the early part of this century.<br><br>From a carriage requirements perspective, security related allocations have been added to A4 and A7 of each Incoterms rule, and the necessary costs associated have been added to A9\/B9 (see 3).<\/p>\n\n\n\n<p><\/p>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"h-5-own-transport\">5. Own transport<\/h4>\n\n\n\n<p style=\"font-size:16px\">Incoterms 2010 rules assumed that goods carried from the seller to the buyer were via a 3rd party. Incoterms 2020 allows for own means of transport by the buyer in the FCA rules and by the seller in the D rules.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"h-6-fca-and-bills-of-lading\">6. FCA and Bills of lading<\/h4>\n\n\n\n<p style=\"font-size:16px\">According to FCA, part B4,&nbsp;<em>\u2018The buyer must contract or arrange at its own cost for the carriage of the goods\u2019.<\/em>&nbsp;There is a gap in delivery between FCA and FOB. If you\u2019re selling FCA, your delivery point is different to FOB. The difference between FCA and FOB to the seller is a significant cost and risk. In the 2010 Incoterms rules, exporters of goods in containers were encouraged to use FCA, which seemed best for both parties.<\/p>\n\n\n\n<p style=\"font-size:16px\"><strong><em>Why were people using FOB instead of FCA?<\/em><\/strong>&nbsp;Even sophisticated sellers said they wanted to use FOB, because a standard Letter of Credit requires an onboard Bill of Lading (BoL) to be presented. Therefore the sellers were often taking the risk and using FOB instead, because they wanted to get paid under the LC.<br><br>The Incoterms\u00ae 2020 FCA extra provision now states that if the parties have so agreed, the buyer must instruct the carrier to issue to the seller, at the buyers cost and risk, a transport document stating that the goods have been loaded (such as a BoL with an on board notation).<\/p>\n\n\n\n<p><\/p>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"h-7-presentation-and-design\">7. Presentation and design<\/h4>\n\n\n\n<p style=\"font-size:16px\">Incoterms\u00ae 2020 rules have more extensive explanatory notes and improved diagrams, with a different structure for users and a reordering of rules to make delivery and risk more obvious.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p style=\"font-size:16px\">Maritime related rules still haven\u2019t changed and remain at the back of the rule book as they still might be used for bulk commodities.<\/p>\n\n\n\n<p><\/p>\n\n\n<section class=\"full-width\">\n  <div class=\"w-100\">\n    <iframe loading=\"lazy\" title=\"Part 1 - An Introduction to Incoterms 2020 Rules \" height=\"150\" width=\"100%\" style=\"border: none;\" scrolling=\"no\" data-name=\"pb-iframe-player\" src=\"https:\/\/www.podbean.com\/player-v2\/?from=old_player&#038;btn-skin=107&#038;skin=1&#038;mini=0&#038;rtl=0&#038;fonts=Helvetica&#038;download=1&#038;share=1&#038;start_at=0&#038;i=n5wnh-c94ce4-pb\" allowfullscreen=\"\"><\/iframe>  <\/div>\n<\/section>\n\n\n<p><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-rule-by-rule\">Rule by Rule<\/h3>\n\n\n\n<p><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-exw-ex-works\">EXW \u2013 Ex Works<\/h2>\n\n\n\n<p><\/p>\n\n\n\n<p style=\"font-size:16px\">Ex Works (EXW) is the term used to describe the delivery of goods to an available designation at their place of business, normally in their factory, offices or warehouse.<\/p>\n\n\n\n<p style=\"font-size:16px\">The seller does not need to then load items onto a truck or ship, and the remainder of the shipment is the responsibility of the buyer (e.g. overseas shipment and customs duty). EXW is therefore more favourable to the seller as they do not need to worry about the freight once it has left their premises.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n\n\n<section class=\"full-width\">\n  <div class=\"w-100\">\n    <iframe loading=\"lazy\" title=\"Part 2 - Ex Works, EXW, one of the Rules for Any Mode or Modes of Transport\" height=\"150\" width=\"100%\" style=\"border: none;\" scrolling=\"no\" data-name=\"pb-iframe-player\" src=\"https:\/\/www.podbean.com\/player-v2\/?from=old_player&#038;btn-skin=104&#038;skin=1&#038;mini=0&#038;rtl=0&#038;fonts=Helvetica&#038;download=1&#038;share=1&#038;start_at=0&#038;i=3xfj4-c94e19-pb\" allowfullscreen=\"\"><\/iframe>  <\/div>\n<\/section>\n\n\n<p><\/p>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-16018d1d wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button fs-16\"><a class=\"wp-block-button__link has-white-color has-vivid-cyan-blue-background-color has-text-color has-background wp-element-button\" href=\"https:\/\/www.tradefinanceglobal.com\/incoterms\/ex-works-exw\/\">Free Guide<\/a><\/div>\n<\/div>\n\n\n\n<p><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-fca-free-carrier\">FCA \u2013 Free Carrier<\/h2>\n\n\n\n<p><\/p>\n\n\n\n<p style=\"font-size:16px\">Unlike EXW, Free Carrier pushes the responsibility of delivering the goods to the buyers nominated premises onto the seller, so they have to organise shipping and various export documents.<\/p>\n\n\n\n<p><\/p>\n\n\n<section class=\"full-width\">\n  <div class=\"w-100\">\n    <iframe loading=\"lazy\" title=\"Part 3 - Free Carrier, FCA, one of the Rules for Any Mode or Modes of Transport\" height=\"150\" width=\"100%\" style=\"border: none;\" scrolling=\"no\" data-name=\"pb-iframe-player\" src=\"https:\/\/www.podbean.com\/player-v2\/?from=old_player&#038;btn-skin=103&#038;skin=1&#038;mini=0&#038;rtl=0&#038;fonts=Helvetica&#038;download=1&#038;share=1&#038;start_at=0&#038;i=a3rn9-c94e4c-pb\" allowfullscreen=\"\"><\/iframe>  <\/div>\n<\/section>\n\n\n<p><\/p>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-16018d1d wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button fs-16\"><a class=\"wp-block-button__link has-white-color has-vivid-cyan-blue-background-color has-text-color has-background wp-element-button\" href=\"https:\/\/www.tradefinanceglobal.com\/incoterms\/fca-free-carrier\/\">Free Guide<\/a><\/div>\n<\/div>\n\n\n\n<p><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-cpt-carriage-paid-to\">CPT \u2013 Carriage Paid To<\/h2>\n\n\n\n<p><\/p>\n\n\n\n<p style=\"font-size:16px\">\u201cCarriage Paid To\u201d, or CPT, goes into a little more detail than FCA, specifying that the seller bears the costs for transporting the goods to the nominated place that the buyer requests.<\/p>\n\n\n\n<p style=\"font-size:16px\">Carriage Paid To can be used in any transport mode, and the risk transfers from the seller to the buyer as soon as the goods reach the nominated destination and the carrier takes charge of these.<\/p>\n\n\n\n<p><\/p>\n\n\n<section class=\"full-width\">\n  <div class=\"w-100\">\n    <iframe loading=\"lazy\" title=\"Part 4 - Carriage Paid To, CPT, one of the Rules for Any Mode or Modes of Transport\" height=\"150\" width=\"100%\" style=\"border: none;\" scrolling=\"no\" data-name=\"pb-iframe-player\" src=\"https:\/\/www.podbean.com\/player-v2\/?from=old_player&#038;btn-skin=104&#038;skin=1&#038;mini=0&#038;rtl=0&#038;fonts=Helvetica&#038;download=1&#038;share=1&#038;start_at=0&#038;i=2k6ca-c94e6a-pb\" allowfullscreen=\"\"><\/iframe>  <\/div>\n<\/section>\n\n\n<p><\/p>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-16018d1d wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button fs-16\"><a class=\"wp-block-button__link has-white-color has-vivid-cyan-blue-background-color has-text-color has-background wp-element-button\" href=\"https:\/\/www.tradefinanceglobal.com\/incoterms\/cpt-carriage-paid-to\/\">Free Guide<\/a><\/div>\n<\/div>\n\n\n\n<p><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-cip-carriage-insurance-paid-to\">CIP \u2013 Carriage Insurance Paid To<\/h2>\n\n\n\n<p><\/p>\n\n\n\n<p style=\"font-size:16px\">\u201cCarriage and Insurance Paid to\u201d, or CPI, specifies that the seller needs to pay the costs of transport as well as the insurance cover for the goods in transit (by any transport mode) to the destination named by the buyer.<\/p>\n\n\n\n<p style=\"font-size:16px\">In terms of level of insurance, the cover level can be minimum, defined by the ICC\u2019s INCO Terms, and should they request a higher level of insurance, this would need to be agreed on the contract.<\/p>\n\n\n\n<p style=\"font-size:16px\">The risk is then transferred from the seller onto the buyer once the goods reach the nominated point.<\/p>\n\n\n\n<p><\/p>\n\n\n<section class=\"full-width\">\n  <div class=\"w-100\">\n    <iframe loading=\"lazy\" title=\"Part 5 - Carriage and Insurance Paid To, CIP, one of the Rules for Any Mode or Modes of Transport\" height=\"150\" width=\"100%\" style=\"border: none;\" scrolling=\"no\" data-name=\"pb-iframe-player\" src=\"https:\/\/www.podbean.com\/player-v2\/?from=old_player&#038;btn-skin=104&#038;skin=1&#038;mini=0&#038;rtl=0&#038;fonts=Helvetica&#038;download=1&#038;share=1&#038;start_at=0&#038;i=u624v-c94e8a-pb\" allowfullscreen=\"\"><\/iframe>  <\/div>\n<\/section>\n\n\n<p><\/p>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-16018d1d wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button fs-16\"><a class=\"wp-block-button__link has-white-color has-vivid-cyan-blue-background-color has-text-color has-background wp-element-button\" href=\"https:\/\/www.tradefinanceglobal.com\/incoterms\/cip-carriage-insurance-paid-to\/\">Free Guide<\/a><\/div>\n<\/div>\n\n\n\n<p><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-dap-delivered-at-place\">DAP \u2013 Delivered At Place<\/h2>\n\n\n\n<p><\/p>\n\n\n\n<p style=\"font-size:16px\">\u201cDelivered at Place\u201d, or DAP, can also be used for any mode of transport. An extension of DAT, the seller delivers the goods at a named destination, specified by the buyer, although under the ICC rules, the unloading of the goods are the responsibility of the buyer.<\/p>\n\n\n\n<p style=\"font-size:16px\">The buyer is also required to sort out duties and taxes, as well as clearing the goods through customs.<\/p>\n\n\n\n<p><\/p>\n\n\n<section class=\"full-width\">\n  <div class=\"w-100\">\n    <iframe loading=\"lazy\" title=\"Part 6 - Delivered at Place, DAP, one of the Rules for Any Mode or Modes of Transport\" height=\"150\" width=\"100%\" style=\"border: none;\" scrolling=\"no\" data-name=\"pb-iframe-player\" src=\"https:\/\/www.podbean.com\/player-v2\/?from=old_player&#038;btn-skin=104&#038;skin=1&#038;mini=0&#038;rtl=0&#038;fonts=Helvetica&#038;download=1&#038;share=1&#038;start_at=0&#038;i=ptkpf-c94ea4-pb\" allowfullscreen=\"\"><\/iframe>  <\/div>\n<\/section>\n\n\n<p><\/p>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-16018d1d wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button fs-16\"><a class=\"wp-block-button__link has-white-color has-vivid-cyan-blue-background-color has-text-color has-background wp-element-button\" href=\"https:\/\/www.tradefinanceglobal.com\/incoterms\/dap-delivery-at-place\/\">Free Guide<\/a><\/div>\n<\/div>\n\n\n\n<p><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-dpu-delivered-at-place-unloaded\">DPU \u2013 Delivered at Place Unloaded<\/h2>\n\n\n\n<p><\/p>\n\n\n\n<p style=\"font-size:16px\">\u201cDelivered at Place Unloaded\u201d, or DPU, can be used for any mode of transport. The seller delivers the goods and transfers the risk to the buyer when goods once unloaded from the arriving means of transport are placed at the disposal of the buyer at a named destination at the agreed point within that place. The seller bears all risks involved in bringing the goods to and unloading them at the named place of destination. Therefore the delivery and arrival at the destination are the same.<\/p>\n\n\n\n<p><\/p>\n\n\n<section class=\"full-width\">\n  <div class=\"w-100\">\n    <iframe loading=\"lazy\" title=\"Part 7 - Delivered At Place Unloaded, DPU, one of the Rules for Any Mode or Modes of Transport\" height=\"150\" width=\"100%\" style=\"border: none;\" scrolling=\"no\" data-name=\"pb-iframe-player\" src=\"https:\/\/www.podbean.com\/player-v2\/?from=old_player&#038;btn-skin=104&#038;skin=1&#038;mini=0&#038;rtl=0&#038;fonts=Helvetica&#038;download=1&#038;share=1&#038;start_at=0&#038;i=3777y-c94ecd-pb\" allowfullscreen=\"\"><\/iframe>  <\/div>\n<\/section>\n\n\n<p><\/p>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-16018d1d wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button fs-16\"><a class=\"wp-block-button__link has-white-color has-vivid-cyan-blue-background-color has-text-color has-background wp-element-button\" href=\"https:\/\/www.tradefinanceglobal.com\/incoterms\/dpu-delivered-at-place-unloaded\/\">Free Guide<\/a><\/div>\n<\/div>\n\n\n\n<p><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-ddp-delivered-duty-paid\">DDP \u2013 Delivered Duty Paid<\/h2>\n\n\n\n<p style=\"font-size:16px\">\u201cDelivered Duty Paid\u201d, or DDP, can be used for any mode of transport. The seller delivers the goods and transfers the risk to the buyer when the goods are placed at the disposal of the buyer, cleared for import, on the arriving means of transport, ready for unloading at the named place of destination. The seller bears all risks involved in bringing the goods to the named place of destination or to the agreed point within that place.<\/p>\n\n\n\n<p><\/p>\n\n\n<section class=\"full-width\">\n  <div class=\"w-100\">\n    <iframe loading=\"lazy\" title=\"Part 8 - Delivery Duty Paid, DDP, one of the Rules for Any Mode or Modes of Transport\" height=\"150\" width=\"100%\" style=\"border: none;\" scrolling=\"no\" data-name=\"pb-iframe-player\" src=\"https:\/\/www.podbean.com\/player-v2\/?from=old_player&#038;btn-skin=104&#038;skin=1&#038;mini=0&#038;rtl=0&#038;fonts=Helvetica&#038;download=1&#038;share=1&#038;start_at=0&#038;i=qwmpf-c94eef-pb\" allowfullscreen=\"\"><\/iframe>  <\/div>\n<\/section>\n\n\n<p><\/p>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-16018d1d wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button fs-16\"><a class=\"wp-block-button__link has-white-color has-vivid-cyan-blue-background-color has-text-color has-background wp-element-button\" href=\"https:\/\/www.tradefinanceglobal.com\/incoterms\/ddp-delivery-duty-paid\/\">Free Guide<\/a><\/div>\n<\/div>\n\n\n\n<p><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-fas-free-alongside-ship\">FAS \u2013 Free Alongside Ship<\/h2>\n\n\n\n<p><\/p>\n\n\n\n<p style=\"font-size:16px\">\u201cFree Alongside Ship\u201d, or FAS, is used in situations when the seller can place the goods alongside other non-containerised goods (e.g. on a vessel or barge).<\/p>\n\n\n\n<p style=\"font-size:16px\">The seller might do this if they have access to sea or inland waterway routes and want to place the goods en route to the buyer alongside other goods on the ship. It\u2019s not recommended for goods that can be placed in a container (more on this below, see FCA).<\/p>\n\n\n\n<p style=\"font-size:16px\">The risk of transporting the goods \u2018alongside ship\u2019 move from the seller to the buyer once the goods are delivered to a terminal or port and unloaded.<\/p>\n\n\n\n<p><\/p>\n\n\n<section class=\"full-width\">\n  <div class=\"w-100\">\n    <iframe loading=\"lazy\" title=\"Part 9 - Free Alongside Ship, FAS, one of the rules for sea and inland waterway transport\" height=\"150\" width=\"100%\" style=\"border: none;\" scrolling=\"no\" data-name=\"pb-iframe-player\" src=\"https:\/\/www.podbean.com\/player-v2\/?from=old_player&#038;btn-skin=104&#038;skin=1&#038;mini=0&#038;rtl=0&#038;fonts=Helvetica&#038;download=1&#038;share=1&#038;start_at=0&#038;i=2gn7v-c9ddc6-pb\" allowfullscreen=\"\"><\/iframe>  <\/div>\n<\/section>\n\n\n<p><\/p>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-16018d1d wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button fs-16\"><a class=\"wp-block-button__link has-white-color has-vivid-cyan-blue-background-color has-text-color has-background wp-element-button\" href=\"https:\/\/www.tradefinanceglobal.com\/incoterms\/fas-free-alongside-ship\/\">Free Guide<\/a><\/div>\n<\/div>\n\n\n\n<p><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-fob-free-on-board\">FOB \u2013 Free On Board<\/h2>\n\n\n\n<p><\/p>\n\n\n\n<p style=\"font-size:16px\">\u201cFree On Board\u201d, or FOB, occurs when the seller delivers the goods to the port of shipment, at which then it becomes the responsibility of the buyer once unloaded onto a vessel. If the goods are damaged when on board the vessel, it\u2019s the responsibility of the buyer.<\/p>\n\n\n\n<p><\/p>\n\n\n<section class=\"full-width\">\n  <div class=\"w-100\">\n    <iframe loading=\"lazy\" title=\"Part 10 - Free on Board, FOB, one of the rules for sea and inland waterway transport \" height=\"150\" width=\"100%\" style=\"border: none;\" scrolling=\"no\" data-name=\"pb-iframe-player\" src=\"https:\/\/www.podbean.com\/player-v2\/?from=old_player&#038;btn-skin=104&#038;skin=1&#038;mini=0&#038;rtl=0&#038;fonts=Helvetica&#038;download=1&#038;share=1&#038;start_at=0&#038;i=qwkce-c9ddda-pb\" allowfullscreen=\"\"><\/iframe>  <\/div>\n<\/section>\n\n\n<p><\/p>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-16018d1d wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button fs-16\"><a class=\"wp-block-button__link has-white-color has-vivid-cyan-blue-background-color has-text-color has-background wp-element-button\" href=\"https:\/\/www.tradefinanceglobal.com\/fob-price-free-on-board-meaning\/\">Free Guide<\/a><\/div>\n<\/div>\n\n\n\n<p><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-cfr-cost-and-freight\">CFR \u2013 Cost and Freight<\/h2>\n\n\n\n<p><\/p>\n\n\n\n<p style=\"font-size:16px\">\u201cCost and Freight\u201d, or CFR, incurs more risk and responsibility onto the seller. The seller delivers the goods up and takes all responsibility and cost right up until the ship has docked at the end point and the goods have been unloaded. The seller will also cover the cost of insurance at atleast the minimum level.<\/p>\n\n\n\n<p><\/p>\n\n\n<section class=\"full-width\">\n  <div class=\"w-100\">\n    <iframe loading=\"lazy\" title=\"Part 11 - Cost and Freight, CFR, one of the rules for sea and inland waterway transport\" height=\"150\" width=\"100%\" style=\"border: none;\" scrolling=\"no\" data-name=\"pb-iframe-player\" src=\"https:\/\/www.podbean.com\/player-v2\/?from=old_player&#038;btn-skin=104&#038;skin=1&#038;mini=0&#038;rtl=0&#038;fonts=Helvetica&#038;download=1&#038;share=1&#038;start_at=0&#038;i=8m9id-c9ddeb-pb\" allowfullscreen=\"\"><\/iframe>  <\/div>\n<\/section>\n\n\n<p><\/p>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-16018d1d wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button fs-16\"><a class=\"wp-block-button__link has-white-color has-vivid-cyan-blue-background-color has-text-color has-background wp-element-button\" href=\"https:\/\/www.tradefinanceglobal.com\/incoterms\/cfr-cost-and-freight-shipping-meaning\/\">Free Guide<\/a><\/div>\n<\/div>\n\n\n\n<p><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-cif-cost-insurance-and-freight\">CIF \u2013 Cost, Insurance and Freight<\/h2>\n\n\n\n<p><\/p>\n\n\n\n<p style=\"font-size:16px\">\u201cCost, Insurance and Freight\u201d, also known as CIF, is also restricted to sea or inland waterway modes of transport. In this case, the seller insures the goods transported up until they arrive at the port, but it becomes the responsibility of the buyer (in terms of risk and insurance).<\/p>\n\n\n\n<p><\/p>\n\n\n<section class=\"full-width\">\n  <div class=\"w-100\">\n    <iframe loading=\"lazy\" title=\"Part 12 - Cost Insurance and Freight, CIF, one of the rules for sea and inland waterway transport\" height=\"150\" width=\"100%\" style=\"border: none;\" scrolling=\"no\" data-name=\"pb-iframe-player\" src=\"https:\/\/www.podbean.com\/player-v2\/?from=old_player&#038;btn-skin=104&#038;skin=1&#038;mini=0&#038;rtl=0&#038;fonts=Helvetica&#038;download=1&#038;share=1&#038;start_at=0&#038;i=zjre8-c9ddfa-pb\" allowfullscreen=\"\"><\/iframe>  <\/div>\n<\/section>\n\n\n<p><\/p>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-16018d1d wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button fs-16\"><a class=\"wp-block-button__link has-white-color has-vivid-cyan-blue-background-color has-text-color has-background wp-element-button\" href=\"https:\/\/www.tradefinanceglobal.com\/incoterms\/cif-price-cost-insurance-and-freight\/\">Free Guide<\/a><\/div>\n<\/div>\n\n\n\n<p><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n<\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-columns container w-auto is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:33.33%\"><\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:66.66%\">\n<h2 class=\"wp-block-heading\" id=\"h-transfer-of-risk-in-incoterms\">Transfer of Risk in Incoterms<\/h2>\n\n\n\n<p><\/p>\n\n\n\n<div class=\"wp-block-group\" style=\"font-size:16px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group\" style=\"font-size:16px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained\">\n<p style=\"font-size:16px\">The subject of Incoterms is restricted to the aspects relating to the rights and obligations of the parties, Seller and Buyer, of a commercial contract with reference to the delivery of the goods.<\/p>\n\n\n\n<p style=\"font-size:16px\">It is essential for the Seller \/ Exporter not to misunderstand the actual application of Incoterms 2020 that refer to the sales contract and&nbsp;<strong>NOT<\/strong>&nbsp;to the transport contract, even though, in order to make a sale of goods, there are correlations with aspects and contracts that will be finalized later, such as transport, insurance, financing etc.<\/p>\n\n\n\n<p style=\"font-size:16px\">It is furthermore important to keep in mind that Incoterms shall not be considered \u201claws\u201d as their legal effect lies in the will of both parties to opt for them in their commercial transactions by making explicit written mention on.<\/p>\n\n\n\n<p style=\"font-size:16px\">In short, Incoterms 2020<strong>:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li style=\"font-size:16px\">are&nbsp;<strong>optional rules,&nbsp;<\/strong>not laws;<\/li>\n\n\n\n<li style=\"font-size:16px\">do not affect the transport contract, as they relate with the&nbsp;<strong>sales contract;<\/strong><\/li>\n\n\n\n<li style=\"font-size:16px\">do not concern the property transfer or any other sales right;<\/li>\n\n\n\n<li style=\"font-size:16px\">do not govern all of the obligations undertaken by the parties of a sales contract, as they are confined to the&nbsp;<strong>delivery of the goods<\/strong>;<\/li>\n\n\n\n<li style=\"font-size:16px\">do not concern the breach of the contract, with the relevant consequences for the party in breach.<\/li>\n<\/ul>\n\n\n\n<p style=\"font-size:16px\">ICC, i.e. the International Chamber of Commerce, grouped the obligations of the Seller and the Buyer in 10 points, marked by the \u201cA\u201d, for the Seller, and by the letter \u201cB\u201d, for the Buyer, so that each point (title) related with the Seller, under the letter \u201cA\u201d, matches with the position of the Buyer, under the letter \u201cB\u201d.<\/p>\n\n\n\n<p><\/p>\n<\/div><\/div>\n<\/div><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-obligations-of-the-parties-under-incoterms-2020\">Obligations of the parties under Incoterms 2020<\/h2>\n\n\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<figure class=\"wp-block-table\"><table><tbody><tr><td><strong>Seller\u2019s obligations<\/strong><\/td><td><strong>Buyer\u2019s obligations<\/strong><\/td><\/tr><tr><td><strong>A 1.<\/strong>&nbsp;General obligations<\/td><td><strong>B 1.<\/strong>&nbsp;General obligations<\/td><\/tr><tr><td><strong>A 2.<\/strong>&nbsp;Delivery<\/td><td><strong>B 2.<\/strong>&nbsp;Taking Delivery<\/td><\/tr><tr><td><strong>A 3.<\/strong>&nbsp;Transfer of risks<\/td><td><strong>B 3.<\/strong>&nbsp;Transfer of risks<\/td><\/tr><tr><td><strong>A 4.&nbsp;<\/strong>Carriage<\/td><td><strong>B 4.&nbsp;<\/strong>Carriage<\/td><\/tr><tr><td><strong>A 5.&nbsp;<\/strong>Insurance<\/td><td><strong>B 5.&nbsp;<\/strong>Insurance<\/td><\/tr><tr><td><strong>A 6.&nbsp;<\/strong>Delivery \/ transport document<\/td><td><strong>B 6.&nbsp;<\/strong>Proof of Delivery<\/td><\/tr><tr><td><strong>A 7.&nbsp;<\/strong>Export \/ import clearance<\/td><td><strong>B 7.&nbsp;<\/strong>Export \/ import clearance<\/td><\/tr><tr><td><strong>A 8.&nbsp;<\/strong>Checking \/ packaging \/ marking<\/td><td><strong>B 8.&nbsp;<\/strong>Checking \/ packaging \/ marking<\/td><\/tr><tr><td><strong>A 9.&nbsp;<\/strong>Allocation of costs<\/td><td><strong>B 9.&nbsp;<\/strong>Allocation of costs<\/td><\/tr><tr><td><strong>A 10.&nbsp;<\/strong>Notices<\/td><td><strong>B 10.&nbsp;<\/strong>Notices<\/td><\/tr><\/tbody><\/table><\/figure>\n<\/div>\n<\/div>\n\n\n\n<p><\/p>\n\n\n\n<div class=\"wp-block-group\" style=\"font-size:16px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained\">\n<p style=\"font-size:16px\">Therefore, the obligations governed by the Incoterms 2020 are the following:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li style=\"font-size:16px\">the Seller shall make the goods available for the Buyer, or his carrier, for transportation and delivery to the agreed destination.<\/li>\n\n\n\n<li style=\"font-size:16px\">the breakdown of the risks between Seller and Buyer, as for the transportation of goods from the place of origin to the final destination.<\/li>\n\n\n\n<li style=\"font-size:16px\">the obligation to clear customs in export and import.<\/li>\n\n\n\n<li style=\"font-size:16px\">the obligation by the Buyer to take over the goods<\/li>\n<\/ul>\n\n\n\n<p style=\"font-size:16px\">Although Incoterms deal with a large number of specific obligations, they do not govern the following aspects:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li style=\"font-size:16px\">transfer of property or any other sales right;<\/li>\n\n\n\n<li style=\"font-size:16px\">breach of the contract, with the relevant consequences for the party in the breach;<\/li>\n\n\n\n<li style=\"font-size:16px\">liabilities, financial conditions in connection with the execution of the main legal transaction;<\/li>\n<\/ul>\n\n\n\n<p style=\"font-size:16px\">Incoterms 2020 do not belong to \u201cinternational contracts\u201d. Instead, they&nbsp;<strong>only<\/strong>&nbsp;refer to the sales contract signed the Seller and the Buyer.<\/p>\n\n\n\n<p><\/p>\n<\/div><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-incoterms-diagrams\">Incoterms Diagrams<\/h2>\n\n\n\n<p><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"681\" height=\"1024\" src=\"https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/incoterms-infographic-risk-transfer-for-all-modes-of-transport-681x1024-1.jpg\" alt=\"\" class=\"wp-image-108753\" srcset=\"https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/incoterms-infographic-risk-transfer-for-all-modes-of-transport-681x1024-1.jpg 681w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/incoterms-infographic-risk-transfer-for-all-modes-of-transport-681x1024-1-200x300.jpg 200w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/incoterms-infographic-risk-transfer-for-all-modes-of-transport-681x1024-1-320x481.jpg 320w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/incoterms-infographic-risk-transfer-for-all-modes-of-transport-681x1024-1-370x556.jpg 370w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/incoterms-infographic-risk-transfer-for-all-modes-of-transport-681x1024-1-414x623.jpg 414w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/incoterms-infographic-risk-transfer-for-all-modes-of-transport-681x1024-1-133x200.jpg 133w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/incoterms-infographic-risk-transfer-for-all-modes-of-transport-681x1024-1-166x250.jpg 166w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/incoterms-infographic-risk-transfer-for-all-modes-of-transport-681x1024-1-108x162.jpg 108w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/incoterms-infographic-risk-transfer-for-all-modes-of-transport-681x1024-1-106x159.jpg 106w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/incoterms-infographic-risk-transfer-for-all-modes-of-transport-681x1024-1-82x123.jpg 82w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/incoterms-infographic-risk-transfer-for-all-modes-of-transport-681x1024-1-126x190.jpg 126w\" sizes=\"auto, (max-width: 681px) 100vw, 681px\" \/><\/figure>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"844\" height=\"1024\" src=\"https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/incoterms-infographic-risk-transfer-for-inland-waterways-and-shipping-844x1024-1.jpg\" alt=\"\" class=\"wp-image-108754\" srcset=\"https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/incoterms-infographic-risk-transfer-for-inland-waterways-and-shipping-844x1024-1.jpg 844w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/incoterms-infographic-risk-transfer-for-inland-waterways-and-shipping-844x1024-1-247x300.jpg 247w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/incoterms-infographic-risk-transfer-for-inland-waterways-and-shipping-844x1024-1-768x932.jpg 768w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/incoterms-infographic-risk-transfer-for-inland-waterways-and-shipping-844x1024-1-320x388.jpg 320w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/incoterms-infographic-risk-transfer-for-inland-waterways-and-shipping-844x1024-1-370x449.jpg 370w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/incoterms-infographic-risk-transfer-for-inland-waterways-and-shipping-844x1024-1-414x502.jpg 414w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/incoterms-infographic-risk-transfer-for-inland-waterways-and-shipping-844x1024-1-165x200.jpg 165w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/incoterms-infographic-risk-transfer-for-inland-waterways-and-shipping-844x1024-1-206x250.jpg 206w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/incoterms-infographic-risk-transfer-for-inland-waterways-and-shipping-844x1024-1-134x162.jpg 134w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/incoterms-infographic-risk-transfer-for-inland-waterways-and-shipping-844x1024-1-131x159.jpg 131w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/incoterms-infographic-risk-transfer-for-inland-waterways-and-shipping-844x1024-1-101x123.jpg 101w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/incoterms-infographic-risk-transfer-for-inland-waterways-and-shipping-844x1024-1-157x190.jpg 157w\" sizes=\"auto, (max-width: 844px) 100vw, 844px\" \/><\/figure>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"999\" height=\"1024\" src=\"https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/incoterms-infographic-who-pays-for-what-999x1024-1.jpg\" alt=\"\" class=\"wp-image-108755\" srcset=\"https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/incoterms-infographic-who-pays-for-what-999x1024-1.jpg 999w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/incoterms-infographic-who-pays-for-what-999x1024-1-293x300.jpg 293w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/incoterms-infographic-who-pays-for-what-999x1024-1-768x787.jpg 768w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/incoterms-infographic-who-pays-for-what-999x1024-1-320x328.jpg 320w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/incoterms-infographic-who-pays-for-what-999x1024-1-370x379.jpg 370w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/incoterms-infographic-who-pays-for-what-999x1024-1-414x424.jpg 414w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/incoterms-infographic-who-pays-for-what-999x1024-1-195x200.jpg 195w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/incoterms-infographic-who-pays-for-what-999x1024-1-244x250.jpg 244w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/incoterms-infographic-who-pays-for-what-999x1024-1-158x162.jpg 158w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/incoterms-infographic-who-pays-for-what-999x1024-1-155x159.jpg 155w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/incoterms-infographic-who-pays-for-what-999x1024-1-120x123.jpg 120w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/incoterms-infographic-who-pays-for-what-999x1024-1-185x190.jpg 185w\" sizes=\"auto, (max-width: 999px) 100vw, 999px\" \/><\/figure>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-incoterms-infographics\">Incoterms Infographics<\/h2>\n\n\n\n<p><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"777\" height=\"1024\" src=\"https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/History-of-Incoterms-Timeline-and-Infographic-by-the-International-Chambers-of-Commerce-777x1024-1.jpg\" alt=\"\" class=\"wp-image-108756\" srcset=\"https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/History-of-Incoterms-Timeline-and-Infographic-by-the-International-Chambers-of-Commerce-777x1024-1.jpg 777w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/History-of-Incoterms-Timeline-and-Infographic-by-the-International-Chambers-of-Commerce-777x1024-1-228x300.jpg 228w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/History-of-Incoterms-Timeline-and-Infographic-by-the-International-Chambers-of-Commerce-777x1024-1-768x1012.jpg 768w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/History-of-Incoterms-Timeline-and-Infographic-by-the-International-Chambers-of-Commerce-777x1024-1-320x422.jpg 320w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/History-of-Incoterms-Timeline-and-Infographic-by-the-International-Chambers-of-Commerce-777x1024-1-370x488.jpg 370w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/History-of-Incoterms-Timeline-and-Infographic-by-the-International-Chambers-of-Commerce-777x1024-1-414x546.jpg 414w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/History-of-Incoterms-Timeline-and-Infographic-by-the-International-Chambers-of-Commerce-777x1024-1-152x200.jpg 152w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/History-of-Incoterms-Timeline-and-Infographic-by-the-International-Chambers-of-Commerce-777x1024-1-190x250.jpg 190w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/History-of-Incoterms-Timeline-and-Infographic-by-the-International-Chambers-of-Commerce-777x1024-1-123x162.jpg 123w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/History-of-Incoterms-Timeline-and-Infographic-by-the-International-Chambers-of-Commerce-777x1024-1-121x159.jpg 121w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/History-of-Incoterms-Timeline-and-Infographic-by-the-International-Chambers-of-Commerce-777x1024-1-93x123.jpg 93w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/History-of-Incoterms-Timeline-and-Infographic-by-the-International-Chambers-of-Commerce-777x1024-1-144x190.jpg 144w\" sizes=\"auto, (max-width: 777px) 100vw, 777px\" \/><\/figure>\n\n\n\n<p><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"410\" height=\"1024\" src=\"https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/No-Deal-Brexit-2019-HMT-Update-Infographic-Part-1-410x1024-1.jpg\" alt=\"\" class=\"wp-image-108757\" srcset=\"https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/No-Deal-Brexit-2019-HMT-Update-Infographic-Part-1-410x1024-1.jpg 410w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/No-Deal-Brexit-2019-HMT-Update-Infographic-Part-1-410x1024-1-120x300.jpg 120w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/No-Deal-Brexit-2019-HMT-Update-Infographic-Part-1-410x1024-1-320x799.jpg 320w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/No-Deal-Brexit-2019-HMT-Update-Infographic-Part-1-410x1024-1-370x924.jpg 370w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/No-Deal-Brexit-2019-HMT-Update-Infographic-Part-1-410x1024-1-80x200.jpg 80w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/No-Deal-Brexit-2019-HMT-Update-Infographic-Part-1-410x1024-1-100x250.jpg 100w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/No-Deal-Brexit-2019-HMT-Update-Infographic-Part-1-410x1024-1-65x162.jpg 65w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/No-Deal-Brexit-2019-HMT-Update-Infographic-Part-1-410x1024-1-64x159.jpg 64w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/No-Deal-Brexit-2019-HMT-Update-Infographic-Part-1-410x1024-1-49x123.jpg 49w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/No-Deal-Brexit-2019-HMT-Update-Infographic-Part-1-410x1024-1-76x190.jpg 76w\" sizes=\"auto, (max-width: 410px) 100vw, 410px\" \/><\/figure>\n\n\n\n<p><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"410\" height=\"1024\" src=\"https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/No-Deal-Brexit-2019-HMT-Update-Infographic-Part-1-410x1024-2.jpg\" alt=\"\" class=\"wp-image-108758\" srcset=\"https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/No-Deal-Brexit-2019-HMT-Update-Infographic-Part-1-410x1024-2.jpg 410w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/No-Deal-Brexit-2019-HMT-Update-Infographic-Part-1-410x1024-2-120x300.jpg 120w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/No-Deal-Brexit-2019-HMT-Update-Infographic-Part-1-410x1024-2-320x799.jpg 320w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/No-Deal-Brexit-2019-HMT-Update-Infographic-Part-1-410x1024-2-370x924.jpg 370w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/No-Deal-Brexit-2019-HMT-Update-Infographic-Part-1-410x1024-2-80x200.jpg 80w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/No-Deal-Brexit-2019-HMT-Update-Infographic-Part-1-410x1024-2-100x250.jpg 100w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/No-Deal-Brexit-2019-HMT-Update-Infographic-Part-1-410x1024-2-65x162.jpg 65w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/No-Deal-Brexit-2019-HMT-Update-Infographic-Part-1-410x1024-2-64x159.jpg 64w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/No-Deal-Brexit-2019-HMT-Update-Infographic-Part-1-410x1024-2-49x123.jpg 49w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/04\/No-Deal-Brexit-2019-HMT-Update-Infographic-Part-1-410x1024-2-76x190.jpg 76w\" sizes=\"auto, (max-width: 410px) 100vw, 410px\" \/><\/figure>\n<\/div>\n<\/div>\n\n\n\n<section class=\"full-width block-grid_topics dark-mode\" data-block=\"grid_topics\" data-theme=\"dark\">\n  <div class=\"block-topics\">\n    <h1 class=\"container w-auto fs-xs-20 mb-xs-20 not-for-table-content\"><\/h1>\n    <div class=\"control container w-auto clearfix topic-tabs position-relative\">\n              <ul class=\"tabs tabs-horizontal d-inline-block mb-30\">\n                      <li class=\"px-24 py-12 fs-16 fs-xs-14 active\"\n            data-post-type=\"post\"\n            data-source=\"topic\"\n            data-limit=\"14\"\n            data-include=\"\"\n            data-cat=\"850,851,11052,3822\"\n            data-cat-relationship=\"in\"\n            data-key-category=\"\"\n            data-link=\"\"\n            data-link-title=\"\"\n            default-link=\"\"\n            default-btn-text=\"\">\n              All Topics            <\/li>\n                      <li class=\"px-24 py-12 fs-16 fs-xs-14 \"\n            data-post-type=\"page\"\n            data-source=\"topic\"\n            data-limit=\"40\"\n            data-include=\"\"\n            data-cat=\"851\"\n            data-cat-relationship=\"in\"\n            data-key-category=\"\"\n            data-link=\"\"\n            data-link-title=\"\"\n            default-link=\"\"\n            default-btn-text=\"\">\n              Key Terms            <\/li>\n                      <li class=\"px-24 py-12 fs-16 fs-xs-14 \"\n            data-post-type=\"page\"\n  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value=\"title-asc\">A-Z<\/option>\n        <option value=\"date-desc\" selected>Latest<\/option>\n      <\/select>\n      <div class=\"border-light-blue bg-white fs-16 fw-700 pointer bordered dark:bg-maastricht-blue position-absolute rounded-md sorting-dropdown px-16 py-10\">\n        <span class=\"display-value d-block\">Latest<\/span>\n        <div class=\"border-light-blue bordered options-to-select overflow-hidden rounded-md w-100 d-hidden\">\n          <span class=\"d-block py-10 px-16 pointer single-option\"\n          data-value=\"title-asc\">A-Z<\/span>\n          <span class=\"d-block py-10 px-16 pointer single-option\" data-value=\"date-desc\">Latest<\/span>\n        <\/div>\n      <\/div>\n    <\/div>\n\n    <div class=\"block-wrapper clearfix overflow-hidden max-w-100\">\n    <\/div>\n\n    <div class=\"bottom-buttons d-flex clearfix container w-auto\">\n      <a href=\"\" class=\"custom-link button-standart button-standart-blue\">\n        <span><\/span>\n      <\/a>\n    <\/div>\n  <\/div>\n<\/section>\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>What are Incoterms? Incoterms, short for International Commerce Terms, represent a standardized set of terminology universally recognized in the field of freight forwarding. Established by the International Chamber of Commerce\u2026 <a href=\"https:\/\/www.tradefinanceglobal.com\/incoterms\/\" class=\"read-more-link\">read more &rarr;<\/a><\/p>\n","protected":false},"author":160,"featured_media":112956,"parent":0,"menu_order":1,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"content-type":"","ep_exclude_from_search":false,"footnotes":""},"categories":[3822,3975],"class_list":["post-11183","page","type-page","status-publish","has-post-thumbnail","hentry","category-incoterms","category-guides"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.7 (Yoast SEO v24.7) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Incoterms 2020 [UPDATED 2025] - Free PDF Guide &amp; Podcasts<\/title>\n<meta name=\"description\" content=\"Incoterms\u00ae (International Commercial Terms) are ICC defined shipping rules for buyers and sellers. 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