The new Incoterms 2020 rates will come into force on January 1
The Seville Chamber of Commerce hosted a conference today to discuss the issue of the new rules of the game in international trade. The new types of Incoterms 2020.
Incoterms are rules created by the International Chamber of Commerce that are internationally recognized and that define the rights and obligations between buyer and seller and establish how costs and risks will be allocated between the different parties of a transaction.
They were already established in 2010 but on January 1, 2020, new types of Incoterms will come into force that will vary from those that already existed.
During the conference held this morning, the key changes and benefits that these new Incoterms will have were discussed. Different law firms have participated as well as representatives of Extenda, the Andalusian Agency for Foreign Promotion, an entity dependent on the Ministry of the Presidency of the Government of Andalusia, and Lamaignere, the international logistics and freight transport company.
They explained how to use them properly and the entire scheme related to their use. They stressed that to carry out a good international operation it was very important to have knowledge on this topic.
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