The International Chamber of Commerce has announced yesterday, on September 16th in Paris, about the launching of the new book Incoterms ® 2010 which contains the new internationally-recognized trade terms and rules entering in force at January 1st 2011.
Rajat Gupta, the ICC Chairman said “Before ICC developed the Incoterms® rules, the different terms were often subject to varying interpretations in different countries, often giving rise to disputes and litigation”.
“Today the Incoterms® rules for the usage of terms such as Ex Works (EXW), Free on Board (FOB), Cost and Freight (CFR) and Cost, Insurance and Freight (CIF) are part of the recognized canon defining the responsibilities of buyers and sellers in transactions for the sale of goods worldwide.”
As ICC informs, the number of rules has been reduced from 13 to 11 and two new rules have been created: Delivered at Terminal (DAT) and Delivered at Place (DAP).
The Incoterms rules are accepted over the world by all the authorities, representing the definition of the terms used in international trade.
For more details or if you wish to purchase Incoterms® 2010, may visit directly the official website: www.incoterms.com
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