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.

 

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.