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The new Incoterms 2010

The Incoterms were developed by the ICC (International Chamber of Commerce) and introduced in 1936. The Incoterms are regularly updated and modified. The Incoterms 2010 were implemented as the 7th revision on 1 January 2011.

The Incoterms determine the manner of the transport process. They determine which transport costs are to be borne by the seller and which by the buyer. Furthermore, the Incoterms determine who has to bear the financial risk in case of loss or damage of the goods.

Incoterms have no legal validity. They only become legally binding when there is a clear agreement between the buyer and the seller of the goods. In order to be legally binding, the contract must mention e.g. "FOB according to Incoterms 2010", whereby the year refers to the respective version of the Incoterms. Special provisions agreed in individual contracts are superior to the Incoterms. Differences that are to be settled by court can only be decided upon upon upon presentation of the contract.

The location is the basis of the Incoterms. They can be exact (address) or variable (e.g. a port area). The indication of Incoterms in the contract is voluntary and is usually clarified by one of the abbreviations or the English designation. The customs value is usually determined by specifying the delivery terms, which form the basis for this.

On 1 January 2011 the new Incoterms 2010 will come into force. They have been published since the 3rd quarter of 2010. A major change is the number of clauses. The Incoterms 2000 contain 13, whereas the Incoterms 2010 contain only 11 clauses. 7 of the 2010 clauses are multimodal and 4 are only applicable to maritime or inland waterway transport.