The Incoterms® 2020 rules offer simpler and clearer understanding of all terms, including revised rule language, expanded introductory explanations for the application of rules, explanatory notes, and amended articles in order to better reflect the logic behind the delivery of goods.

The Incoterms® 2020 rules are also the 1^st version of the Incoterms® rules, which include “horizontal” presentation, grouping all like articles together and allowing users to clearly see differences in treatment of particular issues across the 11 Incoterms® rules.

Looking through the Incoterms® 2020 rules you will find answers to such questions:

1. What changes have occurred in the new version of the Rules?

2. What the Incoterms® 2020 rules deal with?

3. What the Incoterms® 2020 rules DO NOT deal with?

4. What is the best way to use the Incoterms® 2020 rules?

5. What is delivery, risk, expenses in the Incoterms® 2020 rules?

6. How do the Incoterms® 2020 rules interact with the purchase and sale agreements and other contracts?

7. What is the connection between the Incoterms® 2020 rules and transport operators and freight forwarders?

8. What is the right way to use 11 Incoterms® 2020 rules?

9. What is the new order of articles within the rules of INCOTERMS® 2020?

10. What are the differences between the Incoterms® 2010 rules and the Incoterms® 2020 rules?

11. How to find the right Incoterms® rule?

Three main statements of the Incoterms® 2020 rules:

Obligations: what are the responsibilities of the seller and the buyer, for example, who arranges transportation or insurance of the goods, who receives transport documents and export or import licenses, etc.;

Risk: where and when the seller “delivers” the goods. In other words when the risk moves from seller to buyer;

Expenses: which of the parties is responsible for different types of expenses, for example, transportation costs, expenses for packaging and loading or unloading operations, as well as inspection or security costs, etc.

Reference source: INCOTERMS