 ICC
announces Incoterms 2000
Paris, 4 June 1999 - The International Chamber of
Commerce has announced the revision of its standard trade definitions, Incoterms
1990. The coming into force of Incoterms 2000, on the first day of the new millennium,
will affect all those involved in international trade including government departments,
chambers of commerce and members of the legal profession.
ICCs decision to revise the widely used Incoterms 1990 was prompted by developments
in technology and in response to an increased use of Incoterms in commercial
practice worldwide. The official trade terms define the responsibilities of
buyer and seller in international sales contracts and are in constant daily
use throughout the world.
It is important for traders to incorporate the correct Incoterms into their
international contracts to avoid unnecessary legal problems. Courts may otherwise
interpret trade terms according to often widely divergent national laws and
unless the use of Incoterms is specified, expensive legal disputes can arise.
As soon as the new terms are published at the end of September this year they
should be incorporated, using the reference "Incoterms 2000", into contracts
effective from January 2000 or any date thereafter. Incoterms 1990 will remain
valid until the end of 1999.
Official translations of Incoterms 2000 will be available in all the official
United Nations languages among others. The Guide to Incoterms 2000, which clearly
sets out the revised Incoterms and explains their practical use, is being produced
both in English and French. Copies will be available in English and French from
November 1999, with other translations becoming available shortly afterwards.
Both Incoterms 2000 and the guide to the revised trade terms can be ordered
either through the Business
Bookstore or by contacting ICCs office in your country.
Hard copies of the
statement are available from the ICC Press and Information Office.
Com
mission
on International Commercial Practice
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