Incoterms® 2020 release date announced

The Incoterms® rules were developed by the International Chamber of Commerce to facilitate international trade and for the interpretation of the trade terms that the parties to a contract of sale could agree to apply..

Incoterms® were first introduced in 1936 and were revised in 1957, 1967, 1976, 1980, 1990, 2000 and 2010 to accommodate changes as global trade developed and evolved..

Currently, in its 8th version (Incoterms® 2010), the Incoterms® rules have become an internationally recognized and accepted standard and are used worldwide in international and domestic contracts for the sale of goods and have become an essential part of the day-to-day international trade and domestic trade..

The ICC which is celebrating its centenary year recently announced the release date for the latest version of these rules which is the Incoterms® 2020..

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Source: shippingandfreightresource.com