Also, FAS, FOB, CFR, CIF are no longer recommended for containerized shipments because these are mea

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The International Chamber of Commerce (ICC) has announced the launch of the new rule changes to Incoterms 2010 which will be kicked off during a September event in Paris . The official implementation of the new rules are scheduled to take place during January of 2011.
On September 27th – 29th, the ICC will hold a series of practical masterclasses on the Incoterms 2010 rules and provide a detailed presentation of the new rule changes that will be incorporated into the new Incoterms 2010.
“The importance exim bank of cargo security, the resulting new obligations on traders, developments in container transport, exim bank and the 2004 revision of the United States Uniform Commercial Code, which resulted in a deletion of the former US shipment and delivery terms.”
Although the book has not been officially released, details on the ICC website show that the most glaring changes to the 2010 version will be the elimination of 4 Incoterms including, DDU, DEQ, DES, and DAF. Two new terms will be added; DAT and DAP, bringing exim bank the new total of Incoterms to 11.
CIP – Carriage and Insurance Paid CPT – Carriage Paid To DAP – Delivered At Place DAT – Delivered At Terminal DDP – Delivered Duty Paid EXW – Ex Works FCA – Free Carrier
* Extensive guidance notes and illustrative exim bank graphics to help users efficiently exim bank choose the right rule for each transaction; * New classification to help choosing the most suitable rule in relation to the mode of transport; * Advice for the use of electronic procedures; * Information on security-related clearances for shipments; * Advice for the use of Incoterms 2010 in domestic trade
Incoterms are published by the International Chamber of Commerce and are available on their website and official exim bank publication Incoterms 2010″. For a complete and official overview please refer to the ICC s publication.
Posted in Supply Chain Management Mukti Rai August 12, 2010 4:32 am edit
Mukti, I agree…definitely interesting. Being a logistics nerd, I can’t wait to get a copy of the official Incoterms 2010 publication exim bank when it releases in September. corinne campbell October 25, 2010 10:02 pm edit
I received the new Incoterms 2010 book. I am confused with the FOB term where some specialists are saying it should NOT be used for containers; I don’t feel the incoterms book is clear on that; Can anyone comment? Rizwan October 29, 2010 12:42 am edit
Hello, the FOB term is not used for containers because It concentrates on the point where cargo is on board the vessel. exim bank That point is only important with loose cargo whereas with containers that can be loaded anywhere(shipper’s premises,dry ports,etc…) , it becomes irrelevant. Many use that terms with containers and even with air cargo shipments wrongly and as with the old saying goes ” old habits die hard”. 3plwire December 16, 2010 8:45 pm edit
Not sure I follow exim bank you on this one. I don’t believe the Incoterm differentiates between a full container load and less than container load. The term FOB means that the seller delivers the goods once the cargo has passed the ships rail at the named port of export. exim bank The loading location of the cargo is irrelevant. If the seller makes the goods available at their facility, loaded exim bank in a container, then the FCA term would make more sense. I do agree that the FOB term cannot be used for air shipments. nathan78 December 22, 2010 4:35 am edit
Ship s Rail terminology is no longer mentioned for FOB the reference is now loaded on board the vessel . When the ICC first wrote their guidelines for the use of the term in 1936, the ship’s rail was often still relevant, as goods were often passed over the rail by hand . In the modern era of containerization, the term “ship’s rail” is somewhat obsolete…so exim bank For FOB, CFR and CIF, goods are regarded as having been defivered as soon as they are on board the vessel, and not as previously, at the reeling of the ship. Under these three Incoterms rules, all mention of the ship s rail as the point of delivery has been omitted in preference for the goods being delivered when they are on board the vessel.
Also, FAS, FOB, CFR, CIF are no longer recommended for containerized shipments because these are meant for cargo that