International Incoterms commercial rules set the terms of sale and purchase. International Chamber of Commerce introduces modifications every decade to clarify ambiguities and adapt the rules to changes in international trade. Currently, the Incoterms 2010 rules are in force, but the proposals for Incoterms 2020 changes have already been presented. ICC will announce the set of new rules at the end of 2019. On January 1, 2020 they will come into force. Knowledge of them is crucial when placing an order and signing a contract with a Chinese partner. We describe the planned changes so that you can prepare for the introduction of Incoterms 2020.
Guest post by Maciej Brzozowski representative of Port of Hamburg
One of the megatrends in economy of the last few years is outsourcing and concentrating on a key competences by the companies, while leaving less relevant matters to the proven business partners. It concerns not only the producers considering the “make or buy” problem, but also trading and service companies. Even the army uses outside companies for facility security service. In case of import from China, the thing we easily hand over China is organization of shipment to the country, because who would be better at it, if not the company operating in a region that’s called the world’s factory.