As you may recall, IUMI participated in the first round of the review process to draft a new set of Incoterms© rules. The review aims to reflect current developments in transport and logistics, international regulations and commercial practices. Various comments which had been submitted to the International Chamber of Commerce (ICC) in the first round of the review process were incorporated in the second draft text of the Incoterms© 2020.
In this second round IUMI responded to specific questions posed by the ICC, requesting input on certain questions related to several Incoterms© rules. IUMI also provided detailed comments on the draft Incoterms© 2020 text.
The ICC Drafting Group will be meeting in April to work on the final version of the text which will be shared with the national committees for final approval. The new Incoterms© 2020 are expected to be published in the autumn 2019 on the occasion of the 100th anniversary of the ICC. IUMI is in contact with the ICC Secretariat with a view to holding a webinar on the changes in the new Incoterms© 2020 rules once they have been published.