Ottawa, 29 June 2010 - Continuing a long tradition of providing the global trading community with the most up-to-date trade tools, the International Chamber of Commerce (ICC) is preparing to launch the Incoterms® 2010 rules in September. ICC is represented in Canada by the Canadian Chamber of Commerce, namely ICC Canada.

Today, ICC Canada has announced it is now accepting pre-orders for the revised Incoterms rules, which will come into effect on 1 January 2011.

Used in both international and domestic contracts for the sale of goods, the rules simplify the drafting of such contracts and help avoid misunderstandings by clearly setting out certain obligations of buyers and sellers under 11 different universally used terms such as ExWorks, Free on Board, and others. Featuring two new rules, the Incoterms® 2010 edition will reflect advances in international trade over the last decade, and is an essential tool for trade.

Bringing coherence to a commercial and judicial system that diverged widely from one country to another, the globally accepted rules caused a sensation in the international business world when ICC first introduced them nearly 75 years ago.

“The global rules developed by ICC and used by companies in countless business transactions all over the world are an essential part of ICC’s work and set us apart from most other international business organizations,” said ICC Secretary General Jean Rozwadowski.

To keep up with the rapid expansion of world trade and globalization, the Incoterms rules are revised about once a decade. Since the last revision in 2000, much has changed in global trade and the current revision - conducted by an international drafting committee of eight ICC-appointed experts - will take into account issues such as developments in cargo security and the need to replace paper documents with electronic ones.

In addition to the 11 rules, the Incoterms® 2010 publication will feature practical guidance and graphics to help users more easily choose the appropriate Incoterms rule for their transaction.

For more information or to pre-order the book now, please visit the Canadian Chamber’s bookstore.

For further information, contact Angela Roy, ICC Canada’s Bookstore Representative: 613.238.4000 (265).

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Contact:
Kathryn Anderson
Director, Communications and Marketing
Office: 613.238.4000 ext. 231
Cell: 613.797.1860