Incoterms® 2010 to include 2 new rules

ICC has recently announced that the new version of the globally accepted trade rules will include 2 new rules reflexing the changes that have taken place since the Incoterms 2000 edition was released 10 years ago.

Incoterms provide a set of international rules for the interpretation of the most commonly used terms in foreign trade. This helps to reduce uncertainties of different interpretations of these terms and reduce the risks that these interpretations carry with them, making international trade more effective for traders.

“The global rules developed by ICC and used by companies in countless business transactions all over the world are an essential part of ICC’s work and set us apart from most other international business organizations,” said ICC Secretary General Jean Rozwadowski.

You can now preorder the Incoterms® 2010 edition in the ICC web page.

To provide with the latest information to the trade community, the Institute of International Trade of Ireland (IITI) is organising a series of  'Understanding Incoterms 2010' courses and seminars to make you aware of the newly introduced set of rules. We will provide detailed information on how can you make the best use of upcoming set of rules in your daily operations.

If you need a broader understanding of what documents are needed when importing and exporting and which procedures you have to follow check 'Understanding Export/Import Documentation' course. This course is essential for those people dealing with import or export documentation. The course can be used for both experienced traders as a refresher or beginners to get a comprehensive understanding of the export and import procedures. The IITI also provides a wide range of International Trade Programmes and Executive Training.