New Incoterms® rules to be published in September

By Hendrike Kühl, IUMI Policy Director

The Incoterms® rules are an agreement between seller and buyer relating to the formalities and obligations concerning the tasks, costs and risks involved in the delivery of goods. The International Chamber of Commerce (ICC) began the process of revising the Incoterms® 2010 rules in late 2016. The terms chosen for the transfer of risk have a direct impact on the cargo insurance obligations and IUMI therefore actively contributed during the revision phase.

The latest edition of the Incoterms® rules, Incoterms® 2020, will be released in early September 2019 and come into effect on 1 January 2020. IUMI has already scheduled a webinar on 23 October 2019 to discuss any relevant changes. Dr Oliver Peltzer, Partner at Arnecke Sibeth Dabelstein and Vice Chair of the ICC Policy Commission on “Customs and Trade Facilitation” will first provide a general update on the new Incoterms© rules and then address those changes which will have an impact on cargo insurers.

Click HERE to sign up for this free webinar.