JUNE 2020: RMG IMPLEMENTS INCOTERMS® 2020

Entering the new decade Incoterms® have renewed, embracing the requests of the market. 

“Incoterms®” is used to indicate the “International Commercial Terms”, i.e. contractual terms developed by the International Chamber of Commerce, which are updated every 10 years, in order to facilitate and regulate the commercial and contractual exchanges. Those terms regard the responsibility, risk and payment conditions to which each sale of goods is subjected.

These rules are deemed binding as long as they are recalled in the contract, including the year of edition (e.g. Incoterms® 2020), between the parts, because the terms per se are not considered binding and thus cannot be directly applied to any contract.

RMG complies with these new terms starting from June 2020. However, this will not affect our customers or suppliers, in that we will comply with the delivery terms already in force, which haven’t been modified in the 2020 version of Incoterms®. Actually, the new publication has introduced some updates:

• More detailed clauses
• Explicatory notes renewed and reviewed
• Change from DAT into DPU

Go to https://iccwbo.org/resources-for-business/incoterms-rules/incoterms-2020/ to find out more! On this page, you can also find the dedicated application that can be downloaded on your devices.

“The Incoterms® Rules are protected by copyright owned by ICC. Further information on the Incoterm® Rules may be obtained from the ICC website [https://iccwbo.org/resources-for-business/incoterms-rules/incoterms-2020/].  Incoterms® and the Incoterms® 2020 logo are trademarks of ICC. Use of these trademarks does not imply association with, approval of or sponsorship by ICC unless specifically stated above.“