Incoterms 2010 have been in force since January 1, 2011. Standard terms for the international sale of goods, these rules have an obvious impact on
contracts of carriage
– Who makes the carriage contract and on what terms?
– What legs of carriage must the carriage contract cover?
– Who bears the costs of carriage?
– What if the carrier or the terminal raises additional charges for the release of the goods – who bears those costs, seller or buyer?
– What type of bill of lading will a seller need to tender for payment?
– What must the bill of lading say about the goods?
– Is the seller entitled to get the bill of lading he needs from the carrier?
– To whom must it be made out and/or endorsed?
– What if payment is by letter of credit?
These are all issues which cut across the seller’s contractual position under the sale contract and under the carriage contract. Although Incoterms 2010 are essentially a code for the contract of sale, inevitably they have an impact on the shipping industry and already the changes to Incoterms effected through the 2010 revision have raised important practical issues for shippers and for carriers.
In this practical seminar, two members of the group drafting the Rules, chaired by a QC with enormous experience in international trade disputes, will be going through the changes with a special emphasis on their impact for shipping practice