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Incoterms 2010: The Newest Revision of Delivery Terms

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  • Roberto Bergami

    () (Victoria University, Melbourne)

Abstract

This paper considers the changes between the Incoterms 2000 and the Incoterms 2010 from a risk management perspective, and highlights the challenges that traders may encounter when dealing with some of these terms. For example, the problematic FOB term and its use in containerisation is not likely to have been totally resolved, although the Incoterms 2010 have attempted to ameliorate the situation. The new terms DAT (Delivered at Terminal) and DAP (Delivered at Place) should be useful for cross border transactions within Customs Union blocs, such as the European Union. The paper concludes that the new Incoterms 2010 provide improved definitions, and more effectively contextualise the use of old terms that are out of synch with today’s modern practices. However, if traders continue to cling to their old habits and fail to update their delivery terms and arrangements to reflect contemporary practices, much of the work and progress that the ICC has put into this change process will be lost.

Suggested Citation

  • Roberto Bergami, 2012. "Incoterms 2010: The Newest Revision of Delivery Terms," Acta Universitatis Bohemiae Meridionales, University of South Bohemia in Ceske Budejovice, vol. 15(2), pages 33-40.
  • Handle: RePEc:boh:actaub:v:15:y:2012:i:2:p:33-40
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    File URL: http://ojs.ef.jcu.cz/acta/article/download/420/412
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    Cited by:

    1. Lucia PALIU - POPA, 2012. "Development of the International Trade in Terms of Incoterms 2010 Rules," Economics and Applied Informatics, "Dunarea de Jos" University of Galati, Faculty of Economics and Business Administration, issue 1, pages 99-106.
    2. Riana Iren RADU & Violeta ISAI & Gabriela MILICA, 2014. "Accounting And Fiscal Aspects Regarding International Trade," Risk in Contemporary Economy, "Dunarea de Jos" University of Galati, Faculty of Economics and Business Administration, pages 369-375.
    3. Lucia Popa-Paliu & Babucea Ana - Gabriela, 2011. "Price Categories Used In Foreign Trade Transactions In The Light Of The Delivery Terms Incoterms 2010," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 4, pages 155-164, December.

    More about this item

    Keywords

    Incoterms 2010; Delivery Terms; Risk Management;

    JEL classification:

    • F10 - International Economics - - Trade - - - General
    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations

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