Incoterms® 2020 for Importers and Exporters

A GUIDE TO INTERNATIONAL & DOMESTIC TERMS OF SALE


ISBN-10: 1-891249-67-3
Last Updated: 2019

Overview

Newly revised and updated rules for 2020. The goal of this Incoterms 2020 book is to provide a working knowledge of what are known as “terms of sale.” Perhaps the most familiar of the terms of sale is “F.O.B.”; however, there are several others. Such terms are also known as “trade terms” or “mercantile symbols.” This valuable reference book belongs on the desk each of the following departments: sales, purchasing, contracts, customer service, traffic, logistics, all departments that touch the sale or purchase documents. “Incoterms 2020 for Importers and Exporters” covers both domestic and international use of international trade terms defined by the International Chamber of Commerce (ICC).

  • Trade Terms of the Uniform Commercial Code
  • Domestic Terms of Sale Compared to International Terms
  • Why use the 11 International Terms instead of the UCC Terms? Advantages vs. Disadvantages
  • Trade Terms of Incoterms® 2020
  • Use and Misuse in Transportation
  • Legal Cases Affecting Application of Incoterms®
  • Exercises and Case Studies

11 Incoterms:

  • EXW- Ex Works
  • FCA- Free Carrier
  • FAS- Free Alongside Ship
  • FOB- Free on Board
  • CFR- Cost & Freight
  • CIF- Cost, Insurance & Freight
  • CPT- Carriage Paid to
  • CIP- Carriage & Insurance Paid to
  • DPU- Delivered at Place Unloaded (New for 2020)
  • DAP- Delivered at Place
  • DDP- Delivered Duty Paid

About the Authors

Catherine J. Petersen is the Co-author of Global Training Center’s “Incoterms ® 2020 & The UCC: A Guide to International & Domestic Terms of Sale”. Ms. Petersen is a sought-after speaker and instructor both here and abroad. She has designed export documentation and procedure manuals for firms of all sizes, including several Fortune 500 companies. She has authored or co-authored five highly regarded books used by businesses, technical institutes and universities covering Incoterms®, logistics, supply chain, and documentation. She holds both graduate and undergraduate degrees in regional planning from Mankato State University, Minnesota, and is a Licensed Customs Broker. Ms. Peterson’s trade
books can be found here at GTC.

George W Thompson, Specializes in export and import regulation and international business counseling, such as antidumping, countervailing duty and other trade remedies, Customs compliance, export controls, international sales contracts, and administrative and judicial litigation relating to these matters. Mr. Thompson has advised domestic and foreign corporations in myriad industries, including food and agriculture, automotive, furniture, software, chemicals, electronics, office and telecommunications products, aerospace, and consumer goods.

®”Incoterms” is a trademark of the International Chamber of Commerce.

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