ENERCON GROUP, INC.

Incoterms 2010 Update

The International Chamber of Commerce (ICC) has completed the eighth revision of the International Commercial Terms (Incoterms).  The new version, called Incoterms 2010, will start to apply from 01 January 2011 and may affect your contracts and bottom line.

 

Change overview

Removed terms:
      DAF, DES, DEQ and DDU

New Incoterms:
      DAT and DAP

DAT (Delivered at Terminalā€¦ named place destination)

DAP (Delivered at Placeā€¦ named place destination)

 

Changes of rules to existing terms

FOB and FAS

CPT and CIP

CFR and CIF

 

Comparison list (Incoterms 2000 versus 2010)

Incoterms 2000 Incoterms 2010
EXW - Ex Works EXW - Ex Works
FCA - Free Carrier FCA - Free Carrier
FAS - Free Alongside Ship FAS - Free Alongside Ship
FOB - Free On Board FOB - Free On Board
CFR - Cost and Freight CFR - Cost and Freight
CIF - Cost Insurance and Freight CIF - Cost Insurance and Freight
CPT - Carriage Paid To CPT - Carriage Paid To
CIP - Carriage and Insurance Paid To CIP - Carriage and Insurance Paid To
DAF - Delivered At Frontier DAT - Delivered At Terminal
DES - Delivered Ex Ship DAP - Delivered At Place
DEQ - Delivered Ex Quay DDP - Delivered Duty Paid
DDU - Delivered Duty Unpaid  
DDP - Delivered Duty Paid  

 

 

Provided as a service of Enercon Group, Inc.

October 2013