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The University of Southampton
Southampton Law School

Professor Lorenzon joins International Chamber of Commerce to write global commercial trade terms

Published: 20 January 2017

The Incoterms ® 2010 Rules are a set of commercial sales terms published by the International Chamber of Commerce (ICC).

They are widely used in International commercial transactions and their use in international sales is encouraged by trade councils and international trade lawyers worldwide. The Incoterms ® are designed to allocate between the seller and the buyer the duties, responsibilities, costs, and risks associated with the procurement and delivery of the goods. The single terms are intended for free incorporation into contracts and are regularly adapted to ever evolving trade practices. Their first edition was published as far back as 1936 and - so far - they have been amended in 1953, 1967, 1976, 1980, 1990, 2000 and 2010.

The ICC has recently commenced work on the next edition: the Incoterms ® 2020 Rules, and Filippo Lorenzon, Professor of Maritime and Commercial Law at the University of Southampton School of Law, will join the UK working group. Filippo is a Member of the ICC UK Commercial Law and Practice Committee which has now started work on the new Incoterms ® 2020, to be launched in 2019. The ICC UK is co-chairing the ICC Global Working Group

Find out more about the ICC and Incoterms .

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