It has been quite apparent, throughout the discussion, that the changes brought by Incoterms 2020 are focused on the facilitation of a greater understanding by the users. Transparency, clarity and pragmatism appear to be at the core of the changes. At least in theory, Incoterms 2020 are expected to achieve their intended aims, since the revisions have addressed two distinct categories of previously encountered pitfalls.
In response to the high frequency of disputes arising from the lack of a common understanding between the parties, of their respective obligations under a specific trade rule, Incoterms 2020 seek to be more comprehensible. Effort was manifestly made to clarify certain features, allocate obligations and costs in a more clear-cut and explicit fashion, and ensure, as a goal, that parties are sufficiently informed to choose the most appropriate and commercially suitable Incoterm for their specific dealings.
Furthermore, in response to industry feedback and concerns, Incoterms 2020 have implemented changes that are specifically targeted at addressing those issues. This is evident by exploring the reasons behind all new introductions or changes, except from the presentational ones. The majority of alterations, therefore, deal with practical considerations, aiming to reflect the commercial realities of the industry for the benefit of its users.
The changes appear promising at face value and in theory, and at the very least, they are expected to smooth out the interaction between Incoterm users. Whether the Drafting Group, however, was in fact successful in tailoring Incoterms to the next century of global trade remains to be seen in practice.