Avoiding a freight: preparing for Incoterms 2010

Major changes to freight delivery terms are afoot.

The International Chamber of Commerce today officially launches 'Incoterms® 2010' in Paris. Impacting anyone selling, buying or supplying goods internationally, Incoterms are freight delivery terms which are reviewed every decade.

Wragge & Co commercial partner David Lowe is one of only eight experts leading the international ICC working group which reviewed and redrafted the terms.

And the changes are significant: four Incoterms have been abolished and two new ones have been developed.

So, what are the main changes and how should the terms be used properly? Wragge & Co's commercial specialists have prepared an article in PLC magazine which examines the key issues.