Incoterms update goes into effect Jan. 1; are you ready?

Emanuel Longo | December 3, 2010

IncotermsTime has flown by… somehow, it’s already Dec. 3! In no time, Jan. 1, 2011, will be upon us and that can only mean one thing — other than the fact that some of us will fail yet another resolution:

Incoterms 2010 are going into effect!

If you need a refresher of what Incoterms are, here’s a quick explanation: Incoterms are commercial terms, accepted worldwide, that detail the relationship between buyers and sellers as far as transport of goods is concerned. In other words, what are the costs and risks of freight between buyer and seller and how are they allocated?

These terms are updated every ten years or so by the International Chamber of Commerce. Companies that include Incoterms in their contracts are accountable for following the conditions. If you’re interested, you can order them here: Incoterms 2010

This FAQ from the ICC goes more in depth with Incoterms.

SHARE

Dynamic Language | Understanding and Overcoming Language Barriers: A Comprehensive Guide
Understanding and Overcoming Language Barriers: A Comprehensive Guide

In our increasingly globalized world, understanding the "language barrier meaning"…

Read More →
Related Articles

 

url->/2010-12-03-incoterms-update-goes-into-effect-jan-1-are-you-ready/

You might also be interested in

Dynamic Language | Understanding and Embracing the Mongolian Language
Understanding and Embracing the Mongolian Language

The Mongolian language, with its deep roots and…

Dynamic Language | The Fascinating History and Global Significance of the Urdu Language
The Fascinating History and Global Significance…

Urdu, a language known for its beauty and…

Dynamic Language | Understanding and Overcoming Language Barriers: A Comprehensive Guide
Understanding and Overcoming Language Barriers: A…

In our increasingly globalized world, understanding the "language…

Copyright 2023 © Dynamic Language. All rights reserved.