What is the current version of Incoterms?

Incoterms 2020, published by the International Chamber of Commerce and in effect since January 1, 2020. The ICC revises the rules roughly every decade, so the next edition is expected around 2030. Always state the edition in your contract.

Does the Incoterm decide who pays U.S. import duty?

Effectively, yes. Under DDP the seller pays the duty as importer of record. Under every other term the U.S. buyer typically imports the goods and pays the duty, even when the seller arranges and pays for freight (as in CIF or CFR).

Is FOB the right term for container shipments?

Usually not. FOB, FAS, CFR, and CIF are designed for bulk and break-bulk sea cargo. For containers and multimodal moves, the “any mode” terms — FCA, CPT, CIP, DAP, DPU, DDP — fit better and place the risk-transfer point where the goods actually change hands.

Do Incoterms transfer ownership of the goods?

No. Incoterms govern cost, risk, and delivery obligations, not title. Ownership transfer and payment are set by other clauses in your sales contract. The right Incoterm aligns your freight cost, your risk exposure, and your customs control — and the wrong one can quietly make you responsible for things you never intended. Reidel Law Firm provides import and export compliance counsel for a predictable flat fee: get a flat-fee compliance memo before you sign your next supply contract.

How to Import With Incoterms: A Buyer's Guide

Incoterms decide who pays for shipping, who carries the risk of loss, and who handles customs at each stage of an international sale — so the term you agree to is one of the most important commercial decisions in any import. The current edition, Incoterms 2020, is published by the International Chamber of Commerce (ICC) and contains eleven three-letter rules. Picking the right one protects your margin and, just as important, controls whether you become the U.S. importer of record. This guide explains the terms that matter most to buyers.