By the International Chamber of Commerce (ICC)
The 7th revision of internationally used trade terms developed and published by the International Chamber of Commerce came into effect on January 1, 2011.
Changes at a glance
- The new Incoterms DAT and DAP replace the former terms DAF, DES, DEQ, and DDU.
- Definition of 'terminal' according to Incoterms® 2010: Terminal includes any place, whether covered or not. It can be a quay, a warehouse, a container yard, a road, rail or air cargo terminal.
- New transfer of costs and risks under the terms FOB, CFR, CIF.