Incoterms: Changes come into force from 1st January 2011

In January 2011 the International Chamber of Commerce (ICC) launched the 8th edition of their international sales terms, the 2010 Incoterms rules.

These rules will affect anyone involved in international buyer or seller business transactions, as they make clear matters relating to rights and obligations of the parties to the contract of sale, with respect to cost, risk and the delivery of goods sold.

They replace the previous Incoterm 2000 rules, and have definite changes, to update the process for the 21st Century, including the increased use of electronic documents and developments in security.

Click here to view the new Incoterms 2010 rules explained by the British International Freight Association (BIFA).