The new Incoterms 2020 are currently being drafted and here are some of the proposed changes and inclusions:
- Removal of FAS, EXW and DDP
- Creation of a new incoterm CNI (Cost and Insurance)
- Relationship between incoterms and sales contracts
- Transport Security
- Insurance regulations
The new Incoterms 2020 will be issued and published in Q4 of 2019 and would take effect from January 01st 2020. The Noble Freight Services team will be sure to keep you informed of any major changes and sit down with you to discuss further in due course.
For more information please contact Noble Freight Services.