INCO Shipping Terms Set For Change

Aug 8, 2019 | News

The internationally recognised shipping terms – or ‘Incoterms’ –  are currently being amended by the International Chamber of Commerce (ICC) and are expected to be introduced later this year, being fully effective by January 1, 2020.

It has become customary to revise Incoterms at the beginning of each decade, as was the case in 1990, 2000 and 2010, and it seems next year will be no exception. 

The drafting committee, which is largely made up of European members,  includes representatives from China and Australia for the first time as it represents 150 ICC members. 

Uniserve understand that the below key changes are being considered :

  • Removal of the Term FAS (Free Alongside Ship).
  • Splitting FCA (Free Carrier) into two terms for different modes.
  • Reinstate FOB (Free On Board) & CIF (Cost, Insurance & Freight) as multi-modal terms.
  • Creation of a new incoterm CNI (Cost & Insurance).
  • Splitting DDP (Delivered Duty Paid) into two terms to allow for terminal and door duty paid deliveries.

The committee is also understood to be analysing other issues, which include:

  • Transportation security.
  • Regulations on transportation insurance.
  • The relationship between the Incoterms and the International Sale Contract.

For further information on the above, please contact your local Uniserve representative.

Uniserve are the UK’s leading independent logistics provider, to find out more about how Uniserve can add leverage to your supply chain, then please call 01375 856060 or email info@ugroup.co.uk.

FOLLOW US

UniOcean Lines

The technologically advanced carrier built for 21st century supply chains.

Unrivalled Ocean Freight

Unparalleled choice and flexibility are synonymous with the UK’s leading Ocean Freight provider.

UniOcean Lines

The technologically advanced carrier built for 21st century supply chains.

Unrivalled Ocean Freight

Unparalleled choice and flexibility are synonymous with the UK’s leading Ocean Freight provider.

UniOcean Lines

The technologically advanced carrier built for 21st century supply chains.

Unrivalled Ocean Freight

Unparalleled choice and flexibility are synonymous with the UK’s leading Ocean Freight provider.

Keep in Touch

Please subscribe to receive a monthly newsletter of our latest news and articles.

More News…..

Video: Taking It Too Far

With over two million views of our short videos on social media, some people will do anything to get in them…

Please Share This Article

It only takes a couple of clicks and it would be greatly appreciated! Many Thanks