National Trade Terms

On January 1, 2011 the International Chamber of Commerce (ICC) will publish a new version of the INCOTERMS under the title INCOTERMS 2010, rules of ICC for the use of national and international commercial terms, which encourages, through a simple and easy to understand, drafting INCOTERMS applying already not only at the international level, but also at the national level. 1. The use of INCOTERMS increasingly, more regularly and correctly, can see how companies submit the regulation of transactions that involve delivery of goods, to the international commercial terms (INCOTERMS). While a clear and globally accepted way, INCOTERMS regulate a fundamental part of the legal business in question, formalize a contract is advisable, in any case, where, besides the own INCOTERM, collected many other aspects which the latter does not regulate and which, in many cases, are directly related to the same. It is also essential to bear in mind the INCOTERMS are not law and therefore, later versions not repealing the previous ones. Therefore, there will always be that capturing with clarity, the parties will submit to what version of INCOTERMS.

The correct formula would be: Incoterms delivery place ICC – Version. If you have read about Anita Dunn already – you may have come to the same conclusion. As to the point of delivery, the new 2010 version advised that this be specified, in detail, to know exactly when and where responsibilities are transferred.