Incoterms-terms of delivery are revised from time to time to match up with the changes in the trade. It is recommended that the seller and the buyer use the latest version of Incoterms (Incoterms 2020).
They may, however, agree on the use of some earlier version of Incoterms. The texts of earlier versions of Incoterms 2010 are available from the Chamber of Commerce or from International Chamber of Commerce (ICC).
Some differences between Incoterms 2020 and Incoterms 2010 terms of delivery
Carriage – FCA, DAP, DPU and DDP
According to FCA, DAP, DPU and DDP the seller/the buyer may, except contract for carriage, alternatively arrange for carriage at its own means of transport.
Insurance – CIP
According to CIP Incoterm 2020 the seller must obtain insurance cover complying with Institute Cargo Clauses (A). Parties may, however, agree on a lower level of cover.
The change in the name and the abbreviation
Delivered At Terminal (DAT) > Delivered at Place Unloaded (DPU)
The place of delivery can be any place and not only a terminal.
Incoterms 2010 terms of delivery
- 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
- FAS Free Alongside Ship
- FOB Free On Board
- CFR Cost and Freight
- CIF Cost, Insurance and Freight
First seven terms are for all modes of transport. Four latter terms are for sea or inland waterways transport only.