Abstract:

Incoterms is the most influential international practice in interpreting trade terms in the world. The latest edition of Incoterms 2020 which was officially implemented on January 1, 2020, will have a significant impact on world commodity import and export trade. This paper analyzes the new changes of the 2020 edition on the basis of comparing the 2020 edition with the 2010 edition. Combining with China’s import and export business practice, we analyze the possible impact of the implementation of Incoterms 2020 on China’s foreign trade, and discuss general principles which should be concerned from the perspectives of foreign trade enterprises, colleges and universities.

Key words: Incoterms, trade terms, ICC, new changes, application analysis