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Business Law in China

Incoterms®2010

ICC rules for the use of domestic and international trade terms by International Chamber of Commerce

Regularly incorporated into sales contracts worldwide, ICC’s Incoterms® 2010 rules define the responsibilities of sellers and buyers for the delivery of goods. International trade is becoming more and more complex. Therefore, universally used rules are essential to avoid misunderstandings and costly disputes. Incoterms® 2010 continues a 70-year ICC tradition and reflects the latest developments in the trading environment.
 

RULES FOR ANY MODE OR MODES OF TRANSPORT

  • EXW Ex Works
  • FCA Free Carrier
  • CPT Carriage Paid To
  • CIP Carriage And Insurance Paid To
  • DAT Delivered At Terminal
  • DAP Delivered At Place
  • DDP Delivered Duty Paid

RULES FOR SEA AND INLAND WATERWAY TRANSPORT

  • FAS Free Alongside Ship
  • FOB Free On Board
  • CFR Cost and Freight
  • CIF Cost, Insurance and Freight

In addition to the 11 rules, Incoterms® 2010 includes :

  • Extensive guidance notes and illustrative graphics to help users efficiently choose the right rule for each transaction;
  • New classification to help choosing the most suitable rule in relation to the mode of transport;
  • Advice for the use of electronic procedures;
  • Information on security-related clearances for shipments;
  • Advice for the use of Incoterms® 2010 in domestic trade.

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