Review article
Choosing the Right One for Sea Transport — Incoterms® 2020
Helga Pavlić Skender
orcid.org/0000-0001-6668-4124
; University of Rijeka, Faculty of Economics and Business, I. Filipovića 4, 51000 Rijeka, Croatia
Abstract
The paper presents the main features of Incoterms® 2020, i.e., the International Chamber of Commerce
rules for the use of domestic and international trade terms, which came into force on January 1,
2020. The International Chamber of Commerce revises the current Incoterms® rules every few
years to eliminate vague and/or imprecise interpretations of the obligations of parties involved in
the international trade. The revisions result in changes to existing terms and/or the introduction of
new terms that help facilitate the flow of goods both domestically and internationally. Therefore, this
paper aims to present the main features of the latest Incoterms® terms that are in force and are used
in international trade. In addition, changes to previous Incoterms® terms are examined and presented
in order to highlight key differences that may influence the choice of the relevant term. Particular
attention has been paid to Incoterms® terms used in sea transport, as sea transport remains the dominant
transport sector in the world trade.
Keywords
international trade, sea transport, Incoterms® 2020, buyers, sellers
Hrčak ID:
306239
URI
Publication date:
18.7.2023.
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