The seller is required to clear goods through export only. Using the wrong term could mean you are liable for transportation and other fees you hadn’t built into the price of your goods. Incoterms® does not constitute a complete contract, but rather become a part of it. Are you using the best international trade term for your exports? NEW Incoterms® 2020! These came into effect on January 1, 2020. The buyer assumes all risks at the first transfer of goods. Our team is making sure that we do our best to protect the health and safety of our employees at the same time provide seamless service to our partners. As of this date, all sales contracts should refer to the Incoterms® 2020 rules as the latest version of the Incoterms® rules. Don't get confused by Incoterms terminology and use the correct international commercial terms! This practical chart can be easily printed and kept as a reference guide. Responsibilities when seller/buyer uses their own transport Previous Incoterms assumed the transport of the goods between seller and buyer would be handled by a third-party carrier. As of this date, all sales contracts should make reference to the Incoterms® 2020 rules as the latest version. Even with the current environment, BGI’s innovative team has pulled together our best resources and capabilities to make sure that the entire team is available for you. Since their introduction in 1936, the Incoterms rules are updated every 10 years. See below Incoterms Chart of Responsibilities so you can quickly identify which fees and potential liabilities you face under each of the 11 trade terms. With new challenges in the global supply chain, we are here to provide our expertise and access our best resources to help our customers. The seller is required to clear goods through export only. According to FCA, part B4, ‘The buyer must contract or arrange at its own cost for the carriage of the goods’. Reach out if we can provide further support! The seller contracts for the cost of freight to move the goods to the port of destination. All rights reserved. The ICC is the largest business organization in the world and published its first set of Incoterms® in 1936. Incoterms® 2020 has been launched by the International Chamber of Commerce (ICC). Launched by the International Chamber of Commerce (ICC), the new set of rules entered into force on January 1st, 2020. You can use this information to either negotiate a different term with the importer or make sure you price your goods properly. The seller also contracts and pays for the cost of insurance. Are you using the best international trade term for your exports? Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful. We thank you for your on-going partnership.

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