Collyer Consulting

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/

Latest Question

The LC stipulates the following terms: Partial shipment not allowed Quantity of goods: 25,000 - 30,000 Unit price : USD10.00 LC amount : USD300,000.00 Both LC amount and quantity of goods 10% less and more acceptable. We have received documents from the customer indicating: Quantity of goods: 22,621 Draft amount USD226,210.00 In light of the above, we seek your confirmation on the following: 1. Will the LC amount be adjusted proportionately in accordance with the actual shipping quantity? 2. Does this constitute a discrepancy due to "LC amount short drawn"

News

News by Month

ICC release Incoterms 2020

Recent News

Is your automatic extension (evergreen) clause as specific as it should be? 21/04/2026

ICC release guidelines on the Application of ICC trade finance rules in the context of the Middle East conflict 17/04/2026

Latest Question