The following is a message from Export.gov:
The new INCOTERMS® 2010 became effective January 1, 2011. Incoterms–which is an abbreviation for International Commercial terms–are a series of sales terms. They are published by the International Chamber of Commerce (ICC) and are widely used in commercial transactions. In addition to providing a set of rules for the interpretation of commonly used trade terms, INCOTERMS® 2010 accomplish the following:
1. Significantly revises Group D listed in INCOTERMS® 2000;
2. Reduce Incoterms from four groups to two groups, allowing trade experts to choose the most suitable rule related to the mode of transport; and
3. Reduce the absolute number of Incoterms from 13 to 11.
Moreover, INCOTERMS® 2010 offer additional guidance which assists users in selecting the most appropriate Incoterm for each transaction. The revised terms also spell out rules regarding the use of electronic procedures; detail information on security-related clearances for shipments; and offer advice with respect to domestic trade.
If you still have questions regarding the new Incoterms 2010, please contact the Trade Information Center at 1-800-USA-TRADE (1-800-872-8723).