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new Incoterms set to come into force

4 October 2010
The International Chamber of Commerce (ICC) has published the new edition of Incoterms, to come into effect on 1 January 2011.

What are Incoterms?

The Incoterms provide an internationally recognised standard of accepted definitions and rules of interpretation for use primarily in international contracts for the sale of goods.

How have the Incoterms been updated?

The Incoterms have undergone two significant amendments, firstly, to take into account up to the minute trade practices and developments in global trade since the last update of the Incoterms in 2000, including:

  • Changes in cargo security (an issue at the forefront of the transportation agenda for many countries following 9/11)
  • The reduction of the number of rules from 13 to 11 and the implementation of two new rules: Delivered at Terminal (DAT) and Delivered at Place (DAP). Both rules are to apply to all modes of transport
  • Increased use of electronic communications in business transactions

The new incoterms are also aimed at being more user friendly, in particular with the use of guidance notes at the start of each rule, providing users with more information and directing them to the correct rule.

What do the changes mean?

The new Incoterms are designed to keep abreast of developments in commercial trade and to accommodate these changes. This update, combined with the Incoterms historical strength as a globally accepted standard for international commercial terms, means the Incoterms will remain as the standard terms of choice for international contracts for the sale of goods. As such, its key for trade lawyers and commercial contract negotiators to be familiar with and understand the revised incoterms 2010 - and use them properly.

training and events

11Dec

Lunchtime learning session on Ocean Outdoor -v- London Borough of Hammersmith and Fulham Nottingham office

The Court of Appeal has recently handed down judgment in Ocean Outdoor v London Borough of Hammersmith & Fulham. Join us on our lunchtime learning session about this case.

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22Jan

Managing procurement risks and challenges Manchester office

Have you ever received a letter challenging a regulated procurement procedure? Has your authority ever had proceedings issued against it for breach of the Public Contracts Regulations 2015?

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focus on...

Care Quality Commission and health & care regulatory update 7 November

Carl May-Smith provides an update on CQC & Competitions & Markets Authority enforcement.

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Legal updates

ECJ guidance on applying exclusions to potential problem bidders

Rebecca McLean reviews the case of Delta Antrepriză de Construcţii şi Montaj 93 SA v Compania Naţională de Administrare a Infrastructurii Rutiere SA, which highlights the European Court of Justice’s (ECJ’s) recent ruling on the interpretation of Article 57(4) of Directive 2014/24 (the public procurement directive), which provides useful clarification over when contracting authorities can apply exclusions grounds where an economic operator has been in default under a prior public contract.

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Upcoming webinars

IR35: If it walks like a duck...

In the UK, a great number of organisations engage self-employed IR35 contractors to complete work on their behalf.

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How to commercialise your IP: licensing, spin outs and JVs

Our expert panel, comprised of IP and corporate law specialists, will be discussing IP commercialisation strategies, their benefits and pitfalls, drawing on experience across the private, public and higher education sectors.

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The content on this page is provided for the purposes of general interest and information. It contains only brief summaries of aspects of the subject matter and does not provide comprehensive statements of the law. It does not constitute legal advice and does not provide a substitute for it.

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