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July 07, 2010 

Latest News on Incoterms 2010 and Seminar Schedule

It appears that the new version of Incoterms®, Incoterms 2010, is on track to go into effect on January 1, 2011.

According to Frank Reynolds, the U.S. Delegate to the International Chamber of Commerce's (ICC) Incoterms Drafting Committee, the final version of Incoterm 2010 is likely to be officially approved in mid-September.

According to Mr. Reynolds, the revisions Incoterms 2010 "is massive" and "the number, presentation and definition of Incoterms rules have changed."

The United States Council for International Business (USCIB) has recently established an Incoterms 2010 website (www.incoterms2010.org) and is now accepting pre-orders for the paperback version of the official Incoterms 2010 book. According to the USCIB website, Incoterms 2010 will include:
  • 11 Incoterms 2010 (a reduction from the 13 current Incoterms 2000)
  • New classification to help choosing the most suitable rule in relation to the mode of transport; 
  • Information on security-related clearances for shipments;
  • Advice for the use of Incoterms in domestic trade.

To educate U.S. businesses on the new rules, USCIB will offer a series of one-day seminars starting in late September 2010 entitled: ICC Incoterms 2010 for Americans. These seminars are accredited by ICC and will be taught by Frank Reynolds. Attendees will receive a copy of the official ICC Incoterms® 2010 book and a companion book, Incoterms® for Americans®, as well as comprehensive seminar notes. To view the seminar schedule and to register online click here.

The Washington, DC area Incoterms 2010 program will be held on November 4, 2010 in Arlington, VA and will be co-sponsored by the National Council on International Trade Development (NCITD).

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