New wording of INCOTERMS 2010
4 October, 2010
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The rules being applied to by the companies when carrying out numerous transactions all over the world will come into force on 1 January 2011. The International Commercial Terms were primarily presented by ICC in 1936, having determined the liability of the seller and buyer when delivering the goods to assist the parties to the international trade in avoiding discrepancies.
The Incoterms 2010 rules reflect the modern tendencies for international trade development having been formed from the moment of issuance of the latest edition in 2000. One of such tendencies is the safety of carriage that became very actual considering 11 September 2001, as well as wide use of electronic devices when conducting commercial transactions.
Source: RBC-Ukraine