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ICC release Incoterms 2020

11/09/2019 On 10 September, the ICC officially released the new version of Incoterms (to be known as Incoterms 2020). A link to the press release from ICC can be found here

https://iccwbo.org/media-wall/news-speeches/icc-releases-incoterms-2020/

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Latest Question

1. Please explain the terms FREE IN (FI) and FREE OUT (FO). 2. Please explain the term THC (terminal handling charge). Is it a cost additional to freight? 3. The credit calls for a bill of lading to be marked freight prepaid, and the port of discharge is actually an inland city. Presented bill of lading shows the place of destination as this inland city, but indicated “ocean freight prepaid” rather than “freight prepaid”. In my opinion, it is not acceptable. Please confirm.

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