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On January 1, 2011 Incoterms® 2010 Rules, the new International Chamber of Commerce rules for the use of domestic and international trade terms, will enter into force. Incoterms® 2010 Rules are designed to govern the sales/purchases of tangible, portable goods in a business to business contract. Internet delivery (electronic software transfers), real estate, and retail sales will not be covered by these rules. Every rule was modified in this latest revision, reflecting ongoing changes in trade practices and security issues. It is not possible to itemize all the changes in a short article like this, so following is a brief summary of the high points of the changes.
Come back soon as we will continue our discussion about Incoterms® 2010.
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