New Incoterms 2010 To Become Effective January 1, 2011

Wilson Sonsini Goodrich & Rosati
Contact

On January 1, 2011, the new Incoterms 2010 published by the International Chamber of Commerce (ICC) will go into effect, reflecting developments in international trade within the last decade such as the increased use of electronic documentation and heightened global concerns about cargo security. Incoterms, similar to Uniform Commercial Code (UCC) provisions such as Free on Board (FOB) and Free Alongside Ship (FAS), are trade rules that are used to clarify the rights and obligations of parties with respect to the delivery of goods. However, Incoterms are used primarily in an international context, while the UCC generally applies to domestic sales of goods. Incoterms 2010 is the eighth revision of the Incoterms rules, supplementing the prior revision to the rules in 2000.

Please see full publication below for more information.

LOADING PDF: If there are any problems, click here to download the file.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Wilson Sonsini Goodrich & Rosati | Attorney Advertising

Written by:

Wilson Sonsini Goodrich & Rosati
Contact
more
less

Wilson Sonsini Goodrich & Rosati on:

Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
Custom Email Digest
- hide
- hide