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New Incoterms 2010 - 11.08.2011
The International Chamber of Commerce has recently revised and updated the known Incoterms rules that are applicable to the international commercial transactions. The new rules bear the name Incoterms 2010.
Although the Incoterms rules are absolutely recognized at international level, by a very recent decision issued on 09 June 2011 (in the case C-87/10) even the European Court of Justice itself has confirmed their important role and value in the contractual relationships. In fact, the Court has specified how the Incoterms stand for terms and clauses well-established in the international trade and how they are characterized by a wide recognition and use. In this case the Court made reference to the Incoterms 2000, that is the last official version of the rules before the said revision.
The new edition Incoterms 2010 has reduced some rules, it has deleted terms nowadays fallen into disuse and it has created new terms considered necessary in order to meet the constant and rapid development of the practices of the international trade. In this connection, an example is the new term “DAT” on the place of delivering of the goods located in a Terminal (for ex., it is used in those hypothesis in which the goods are transferred by containers).
The Incoterms 2010 have come officially into force on the 1st January 2011 and they are applicable to the commercial transaction performed starting from that date.