Incoterms® 2020 PDF - Download now - International Trade Regulations - Latest Version

August 12, 2020

Incoterms® 2020 (Free PDF download available below)

The Incoterms® rules are the regulations that apply to the trade for the sales of goods worldwide, these rules are in place to clarify the responsibilities of the buyer and the seller/shipper in the international shipments of global goods. The Incoterms® rules assist the mutual understanding of responsibilities for the sale of goods around the world.  

They are the authoritative rules for determining how costs and risks are allocated to the parties, they guide individuals and companies participating in the import and export of global trade. These rules are regularly incorporated into contracts and have become part of the daily language of trade.

Launched by the International Chamber of Commerce (ICC) the new rules will enter into force on January 1st, 2020. As of this date, all sales contracts should refer to the Incoterms® 2020 rules as the latest version of the Incoterms® rules.

Key changes

  • Provides for demonstrated market need concerning bills of lading (BL) with an on-board notation and the Free Carrier (FCA) rule.
  • Aligns different levels of insurance coverage in Cost Insurance and Freight (CIF) and Carriage and Insurance Paid to (CIP).
  • Includes arrangements for carriage with own means of transport in Free Carrier (FCA), Delivery at Place (DAP), Delivery at Place Unloaded (DPU), and Delivered Duty Paid (DDP).
  • There is a change in the three-letter name for Delivered at Terminal (DAT) to Deliver at Place Unloaded (DPU).
  • Includes security-related requirements within carriage obligations and costs.

Download Incoterms® 2020 Highlights in PDF

'Incoterms® 2020 rules make business work for everyone by facilitating trillions of dollars in global trade annually. Because they help importers and exporters around the world to understand their responsibilities and avoid costly misunderstandings, the rules form the language of international sales transactions, and help build confidence in our valuable global trading system.' ICC Secretary General John W.H. Denton AO

Helpful information

Incoterms® does not constitute a complete contract, but rather become a part of it. For its application, the following formula should be used:

(The chosen Incoterm® rule) followed by (Named port, place or point) Incoterms® 2020

Example: “CIF Amsterdam Incoterms® 2020” or “DAP 1500 Rankin Road, Houston, TX United States Incoterms® 2020“

If there is no year stated in the Incoterms® then the following applies:

  • until December 31st, 2019 the Incoterms® 2010 apply.
  • from January 1st, 2020 the Incoterms® 2020 apply.

If a different year is stated, e. g. Incoterms® 1980, then respective terms apply.


Incoterms overviewDon't get confused by Incoterms terminology! Crane Worldwide Logistics created an Incoterms® 2020 PDF chart to help better understand these changes. Reach out if we can provide further support!

Download Incoterms® 2020 Matrix in PDF


Incoterms Summary

Any Mode of Transport

EXW - Ex Works - Seller is only responsible for having the goods packed made available at the seller's premises. The buyer bears the full risk and costs from there to the destination - including the loading of the cargo

FCA - Free Carrier - Seller is only responsible for delivery to the named place. Seller is responsible for the loading. Risk and cost are transferred to the buyer as soon as delivered at named place. Unloading is the buyer's responsibility. 

CPT - Carriage Paid To - Seller arranges the transportation and costs to the named destination. Risk is transferred to the buyer once delivered at first carrier. 

CIP - Carriage and Insurance Paid to - Seller arranges the transportation, costs and insurance on behalf of the buyer to the named place at destination. Risk is transferred to the buyer once delivered at first carrier. Seller is required to obtain extensive insurance cover complying with insurance Cargo Clauses (A) or similar clause in the buyer's name.

DAP - Delivered at Place - Seller delivers the goods to the agreed place at destination. Seller assumes all cost and risk until the goods are ready for unloading at named place of destination. 

DPU - Delivered at Place Unloaded - Seller assumes all costs and risks until the goods are unloaded at the agreed named place of destination. Buyer is responsible for import customs formalities.

DDP - Delivery Duty Paid - Seller delivers goods to the agreed place destination. Seller assumes all cost - including import formalities, and risks until the goods are ready for unloading at named place of destination.

Sea and Inland Waterway Transport

FAS - Free Alongside Ship - Seller is responsible for delivery of goods at the port alongside the vessel. From this point onwards risk and cost transfers to the buyer. 

FOB - Free On Board - Seller is responsible for goods loaded on board the vessel. Risk and cost are transferred as soon as the goods have been loaded onboard the vessel. 

CFR - Cost and Freight - Seller cover cost of freight to the named port of destination or place. Risk is transferred as soon as the goods have been loaded onboard the vessel.

CIF - Cost, Insurance and Freight - Seller covers cost of insurance and freight to the named port of destination or place. Risk is transferred as soon as the goods have been loaded onboard the vessel. Seller is required to obtain the minimum insurance cover complying with Institute Cargo Clauses (C) in the buyer's name. 

Eager to learn more? Watch now our webinar about Incoterms® 2020 and learn from Christopher Palmer, Crane Worldwide Logistics' Director of Projects

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