The Comparative Study of Incoterms 2020 and 2010 in International Physical Distribution

Purpose: This study is a comparative study to examine the differences between Incoterms 2010 and Incoterms 2010 through a study on the revision contents and conditions of Incoterms 2020. Research design, data, methodology: This study is composed of 5 chapters through literature study. Chapter 1 is an introduction, and Chapter 2 explains the significance and change of standard trading conditions. Chapter 3 compares Incoterms 2020 and 2010. Chapter 4 deals with major revisions and considerations of Incoterms 2020, and Chapter 5 mentions conclusions and implications. Results: In comparison with Incoterms 2020 and Incoterms 2010, first, the selection of the correct Incoterms rules was emphasized through the introduction; second, the division and connection between the sale contract and the ancillary contract were more clearly explained; and third, each Incoterms An explanatory note was presented by improving the existing guidance note for rules, and finally, the order of clauses within individual Incoterms rules was changed to further emphasize delivery and risk. Conclusions: This study pays attention to the understanding of academic content related to standard trade terms and conditions and how usefully it can be used in the business process of users in practice.