G7N Critical Networks

Incoterms® 2020 - What's changed?

December 11 2019

The IncotermsÂ® rules were first introduced by ICC in 1936 to establish commonly accepted definitions and rules related to the delivery of goods between trading parners worldwide. Since then, ICC has periodically revised the IncotermsÂ® rules to reflect changes in the international trade system. The 2020 edition launches during the organisationâ€™s Centenary year.

More accessible and easier to use, IncotermsÂ® 2020 includes more detailed explanatory notes to illustrate the responsibilities of importers and exporters for each IncotermsÂ® rule. The introduction to IncotermsÂ® 2020 also includes a more detailed explanation on how to choose the most appropriate IncotermsÂ® rule for a given transaction, or how a sales contract interacts with ancillary contracts.

IncotermsÂ® 2020 provides for demonstrated market need in relation to bills of lading (BL) with an on-board notation and the Free Carrier (FCA) IncotermsÂ® rule.
IncotermsÂ® 2020 aligns different levels of insurance coverage in Cost Insurance and Freight (CIF) and Carriage and Insurance Paid To (CIP).
IncotermsÂ® 2020 includes arrangements for carriage with own means of transport in FCA, Delivered at Place (DAP), Delivered at Place Unloaded (DPU), and Delivered Duty Paid (DDP).
There is a change in the three-letter name for Delivered at Terminal (DAT) to DPU.
IncotermsÂ® 2020 includes security-related requirements within carriage obligations and cost

On the release of IncotermsÂ® 2020, ICC Secretary General John W.H. Denton AO said:

â€œIncotermsÂ® 2020 rules make business work for everyone by facilitating trillions of dollars in global trade annually. Because they help importers and exporters around the world to understand their responsibilities and avoid costly misunderstandings, the rules form the language of international sales transactions, and help build confidence in our valuable global trading system.â€

Source: https://iccwbo.org/media-wall/news-speeches/icc-releases-incoterms-2020/

All NEWS

Strategic Partners

It is wonderful and amazing to be a member of G7N with a very good exposure to the worldwide logistics players. G7N Conference is a great way to get exposure, and we got to meet a lot of other members, and develop business relationships. It is incredible and very exciting to be a part of your valuable network.

Nisarg Thakkar

Hiyana World Logistics Pvt Ltd. (HWLPL)

Sobel Network Shipping Company has had the pleasure and privilege of being a part of the G7 Network for a few years. The G7 Network has had a reputation of being very well managed by an excellent team. Membership to the G7 Network is very exclusive with a small group of companies that are well connected and trustworthy, creating lifelong friendships even beyond the scope of work. Through these connections and networking, the G7 Network has provided some very lucrative opportunities for Sobel Network Shipping. We look forward to being a part of the G7 Network family for many years to come.

Brian C. Wills

Sobel Network Shipping Co., Inc.

G7N continues to be an amazing network for developing business partners and key relationships globally. Being such a dynamic operation, communication remains very prompt at all hours over a wide variety of channels, creating a friendly and vibrant atmosphere between all members. The knowledge base within the G7N Team themselves remains astounding and would certainly recommend them as first port of call.

Suresh Daddar

Woodland Global Ltd

As founding member of G7N we wish to point out that we are extremely happy to be part of the group which has been growing constantly in the last few years in spite of the challenges coming from COVID 19 emergency which is causing unprecedented troubles to all of us, in our business and personal lives. G7N management succeeded in passing through this “crazy” time with lucidity in mind and with the right measures to keep members tied and constantly in touch.

Massimo Mazzantini

TEC Cargo Italia S.R.L.

The concept and environment G7N team created for the conference and the Cargo Weekend is awesome, it allows you to build a friendship that is the base of strong business relationships. I hope I can keep being part of this family and meet all my new friends in the conference to come representing JM Logistics.

Paulina Arroyo

JM Logistic Services, S.A. de C.V.

Being a proactive and professionally managed network with its productive members and overnight replies to all inquiries together with providing a sense of confidence with its financial protection system, we as 3K Logistics, Turkey are very much delighted & glad to be a member of this valuable family.

Tugce Pal Sazak

3K Logistics Services

Having recently joined the G7N Logistics Network, I must say the team behind the scenes make every effort possible in ensuring partners are well connected with each other no matter the nature of the consignment. The network does a fantastic job is ensuring that all members despite their geographical locations feel part of one family!

Hussein Iqbal Zavery

Marinair Freight Ltd

Thus far, Owakhe has been seeing potential in the group and we look forward for another exciting year ahead.

Diyashan Ramduth

Owakhe

The conference and members are awesome and the interactive atmosphere is particularly impressive! Never seen such a difference in networking and opportunities for everyone! You can feel the professionalism, experience and the energy of the network!

Marcel Macke

Cargo Movers GmbH

Yes we really do enjoy our G7N conference. For the last 23 years that I’ve been attending network conferences this one is really special and cool. Members are so friendly you will really feel that we treat each other as family. We feel found a family with G7N.