Even as far back as 1936, the International Chamber of Commerce (ICC) in Paris voluntarily composed a set of rules for drawing up normal commercial contract forms for international trade in goods.
The Incoterms specify which transport costs should be covered by the seller, which by the buyer and who carries the financial risk in the case of loss or damages.
Since the 1st of January 2011, the new Incoterms 2010 are now in effect.
The following has changed:
- Application of the Incoterms, not only internationally, but also nationally
- Reduction from 13 to 11 clauses (DAT and DAP replace DEQ, DAF, DES and DDU)
- Organization into universal clauses as well as in clauses exclusively for sea and inland ship transport
- Prefixed instructions improve the comprehensibility as well as insuring proper use
- Electronic communication will be on equal terms with communication in paper form