The official implementation of the new rules is scheduled to take place during January of 2011.
This revision, the first since 2000, will aim to adapt changes that have occurred inglobal trade over the last ten years. According the ICC website, the reasons for the changes include:
The importance of cargo security, the resulting new obligations on traders, developments incontainer transport, and the 2004 revision of the United States Uniform Commercial Code, which resulted in a deletion of the former US shipment and delivery terms.
1. Incoterms 2010will be arranged into the following groups:
Any Mode of Transport
CIP – Carriage and Insurance Paid
CPT – Carriage Paid To
DAP – Delivered At Place
DAT – Delivered At Terminal
DDP – Delivered DutyPaid
EXW – Ex Works
FCA – Free Carrier
Sea and Inland Waterway Transport Only
CFR – Cost and Freight
CIF – Cost, Insurance and Freight
FAS – Free Alongside Ship
FOB – Free On Board
2. Themost glaring changes to the 2010 version will be the elimination of 4 Incoterms:
• DDU (Delivered Duty Unpaid)
• DEQ (Delivered At Frontier)
• DES (Delivered Ex Ship)
• DAF (DeliveredEx Quay)
In any case, three of the four Incoterms removed (DAF, DES and DEQ) were of little use.
3. Two new terms will be added bringing the new total of Incoterms to 11:
• DAT (Delivered AtTerminal)
• DAP (Delivered at Place)
Is used for all modes of transport, also it present itself as special use shipping Incoterm. As the extinct DEQ, DAT (at sea) makes the delivery of thegoods on the quay of destination port, after the discharge of the vessel.
DAP share the characteristics of the missing DAF and DDU, to determine that the goods are to be delivered at somepoint in the country of destination and to be operable in all modes of transport. With the elimination of the restricted term “frontier”, DAP resulted to be much more flexible than the extinct DAF....