Posts Tagged Incoterms 2010

More Trade News in Brief – Week 10 (4 – 10 March 2013)

 
* ICC – New Model International Sale Contract
 
4 March 2013, Paris
 
The International Chamber of Commerce (ICC) has released the updated Model International Sale Contract including an interactive digital version.
 
The new model permits companies and lawyers to define their own reliable import-export agreements that are in line with Incoterms® 2010 and the latest developments in international trade.
 
Visit the ICC Commercial Law and Practice Commission.
 
Check here for more.
 
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 * US Foreign Trade Policy
 
The Office of the United States Trade Representative (USTR) released the ”2013 Trade Policy Agenda and 2012 Annual Report”.
 
Please find the 2013 Agenda and 2012 Report here.
 
Also, USTR published its 2013-2016 Strategic Plan.
 
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* New Zealand and Chile Signed FTA
 
New Zealand and Chile signed a free trade agreement (FTA).
 
Check here.
 
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* UN Strength Sanctions on North Korea
 
7 March 2013
 
The United Nations Security Council tightened sanctions on the Democratic People’s Republic of Korea (DPRK)’s trade and banking.
 
Check the Press Release.
 

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Online Training in International Arbitration

29 January 2013, Paris
 
The International Chamber of Commerce (ICC) has unveiled its new “ICC Arbitration Online Training”.
 
The official e-learning course explain the inside workings of international arbitration and the 2012 ICC Rules of Arbitration, currently caters Trade Finance and Incoterms®2010 rules.
 
View the online training demo.
 
For more information visit the ICC Arbitration online training.
 
View ICC’s general online training.
 

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Incoterms ® 2010

On 1 January 2011 Incoterms® changes into Incoterms ® 2010 revising some of the existing rules.
 
Incoterms® 2010 defines 11 rules, divided in two sections:
 
- Rules for Any Mode(s) of Transport
EXW – Ex Works
FCA – Free Carrier
CPT – Carriage Paid to
CIP – Carriage and Insurance Paid to
DAT – Delivered at Terminal
DAP – Delivered at Place
DDP – Delivered Duty Paid
 
- Rules for Sea and Inland Waterway Transport
FAS – Free Alongside Ship
FOB – Free on Board
CFR – Cost and Freight
CIF – Cost, Insurance and Freight
 
The new Incoterms® 2010 reduced the 13 rules used in Incoterms® 2000 to 11 rules by introducing two new rules (DAT, DAP) which replace four rules of the prior version (DAF, DES, DEQ & DDU).
 
More information on the official website of International Chamber of Commerce.
 

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