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Incoterms 2010


Incoterms 2010

The Incoterms rules explain a set of three-letter trade terms reflecting business-to-business practice in contracts for the sale of goods. The Incoterms rules describe mainly the tasks, costs and risks involved in the delivery of goods from sellers to buyers.

The number of Incoterms rules has been reduced from 13 to 11.
This has been achieved by substituting two new rules that may be used irrespective of the agreed mode of transport – DAT, Delivered at Terminal, and DAP, Delivered at Place – for the Incoterms 2000 rules DAF, DES, DEQ and DDU.

Under both new rules, delivery occurs at a named destination: in DAT, at the buyer’s disposal unloaded from the arriving vehicle (as under the former DEQ rule); in DAP, likewise at the buyer’s disposal, but ready for unloading (as under the former DAF, DES and DDU rules).

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Examination of documents under documentary credits


The current second edition of the book represents a complete update caused mainly by the new ISBP 745 and new ICC Opinions.

The publication is also significantly extended, it now also includes sections on determination of maturity dates for payments in accordance with availability of the credits, on refusal of documents, more detailed section of partial shipments and drawings etc. The book has become an essential tool for every documentary credit practitioner!

The intention of this work is to provide exporters (beneficiaries) of documentary credits as well as bankers with a practical guide which would help them to develop a degree of competence in their daily documentary credit operations needed for a success. The task of getting the documents right, so they meet all terms and conditions of the documentary credit, is indeed very demanding. To achieve this strenuous goal one must be well aware of the rules and international standard banking practices in the field.


Pavel Andrle, Secretary of the ICC Czech Republic Banking Commission, Consultant and Trainer in the International Trade Finance

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