Our news : unfiltered !
Back to news
What should we remember about INCOTERMS 2020?
INCOTERMS is the contraction of "International Commercial TERMS" whose objective is to determine the obligations of the seller and the buyer, the costs and the transfer of risk of a transport at the time of a purchase/sale contract:
- Obligations: who is in charge of transport? the cost of insurance? providing the documents?
- Risks: where and when are the goods delivered?
- The costs: transport? packaging? customs clearance? etc.
What are the major changes between INCOTERMS 2020 and 2000?
- New option of the FCA rule: allows the delivery of a certificate of loading on board (e.g. a BL). The buyer instructs the carrier to give the seller the transport document "on board" or "accepted for shipment".
- All-risk" cover with the Incoterm CIP at the seller's expense, thus increasing the cover and the cost of insurance for the transport.
- The DAT becomes DPU: the goods can be delivered to the agreed destination (terminal, quay, warehouse, factory, etc.).
INCOTERMS 2020 used by STRACAU
- FCA (Free Carrier): free carrier. STRACAU uses the FCA factory in replacement of the EXW (Ex Works) and delivery to the requested place (forwarder, port...).
- CPT (Carriage Paid to): carriage paid to... STRACAU uses it for groupage and container shipments at the port or airport.
- CIP (Carriage and Insurance Paid to): carriage paid, insurance included up to... is identical to CPT but with "all risks" insurance included.
- DAP (Delivered At Place): returned to the place of destination. It is used for deliveries to your addresses when we ship via an express carrier (e.g. DHL, CHRONOPOST, FEDEX...).
- FOB (Free on Board): free on board the vessel,
- CFR (Cost and Freight): cost and freight,
- CIF (Cost insurance and Freight): cost, insurance and freight are to be used when the equipment is packaged in BULK or CONVENTIONAL (excluding containers) for MARITIME transport.
NEED AN ADVICE?
Please, contact Noémie
+33 (0)4 87 24 20 12
Download our TRANSPORT BOOK
Une question ?Dites nous ce que nous pouvons faire pour vous.
Nos équipes commerciales se tiennent à votre disposition du lundi au vendredi de 8h00 à 12h00 et de 13h30 à 17h30 pour répondre à vos questions.