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New changes in the International Chamber of Commer.. 返回按钮
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  • News Type:Industry News
  • datetime:2020-06-06 14:05
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The International Chamber of Commerce (ICC) has drafted a new version of Incoterms 2020, and the new version of trade terms will take effect on January 1, 2020. Incoterms 2020 was formulated by the members of the expert group (drafting committee). Although most of the members of the committee are Europeans, the representatives of China and Australia were first introduced when Incoterms 2020 was developed. The periodic meeting of the expert group discussed the problems found in international trade reflected by the members of the International Chamber of Commerce. The adjustments made by the new version of Incoterms 2020 are as follows:
Remove EXW and DDP trade terms
This will be a very important change. EXW is used by many companies for small-value exports, and DDP is also commonly used for specific goods trade (such as: samples and spare parts trade), they are delivered to the buyer's location through the logistics system and customs. The theoretical basis for removing these two terms is that they are purely domestic operations: EXW is operated by the seller and DDP is operated by the buyer. In addition, these two terms conflict with the new EU customs law to some extent. The new EU customs law stipulates that importers and exporters must bear their respective responsibilities after customs clearance and entry are approved.
Remove FAS terms
FAS (Free Alongside Ship) as a trade term is actually very small, and there is not much gain for the delivery and transportation of the designated port of the exporting country under the FCA (Free Carrier Alongside) situation. Under FCA terminology, exporters can still make terminal deliveries as they do in FAS, because the terminal is also a maritime transport terminal. On the other hand, if FAS is used and the cargo ship is postponed, the goods will still be available for the buyer to process at the dock for a few days, but if the cargo ship arrives early, the goods (because of the lack of delivery time) cannot be shipped by the buyer immediately. In fact, FAS is only used for the export of some goods (such as minerals and grains). Based on this, the Drafting Committee is considering creating trade terms specifically for this kind of goods.
Expand FCA into two trading terms
FCA is the most frequently used trade term (about 40% of international trade operates under this term) because its versatility can be used for the transportation of goods at different terminals (such as: seller’s location, land transportation terminal, terminal, airport, etc.) ). The committee is considering the possibility of creating two FCA terms, one for land transportation and the other for ocean transportation.
Container transport under FOB and CIF terms
Incoterms 2010 revised the FOB and CIF terms applicable to container transportation, but the FCA and CIP terms are still not used by most export and import companies or international trade agents (eg, forwarders, logistics operations, banks, etc.). This is because FOB and CIF are very old terms (FOB was used in the 18th century in the UK) and the International Chamber of Commerce has not changed its adaptation problem according to the changes of the times. 80% of world trade is container transportation, so it is very important to make FOB and CIF applicable to container transportation. In the Incoterms 2020 version, FOB and CIF terms are expected to be re-used for container shipping as Incoterms 2000 and earlier versions.
New trade term: CNI
The new trade term is named: CNI (Cost and Insurance), he can make up for the gap between FCA term and CFR/CIF term. Unlike FCA and CNI, which includes exporters' insurance liability for purchases, and unlike CFR/CIF, which includes transportation costs. As with other trade terms beginning with "C", this new term will also be an "arrival Incoterm", which means that the transportation risk is transferred from the seller to the buyer when the cargo terminal departs.
Two new terms based on DDP
Like FCA, DDP also creates some problems, because regardless of where the goods are delivered, the customs clearance obligations of the importing country need to be completed by the exporter. Therefore, the Drafting Committee is considering creating two DDP-based terms:
DTP (Delivered at Terminal Paid): When the goods are delivered to the destination in the buyer's country (port, airport, transportation center, etc.), the seller assumes customs obligations.
DPP (Delivered at Place Paid): When the goods are delivered to a non-transport destination (such as the buyer’s residence), the seller assumes customs obligations.
In addition to removing and adding new trade terms, the Drafting Committee is also studying other issues: such as traffic safety, regulation of transport insurance, the relationship between trade terms and international trade contracts, etc