Project PurposeRecommendation 5 recommends the use of agreed abbreviations for the International Chamber of Commerce’s (ICC) trade terms, known as INCOTERMS, for acceptance and use by Governments and international organizations whenever these terms are used in abbreviated form, including in electronic data transmission and processing. INCOTERMS were originally proposed by the UNECE in the 1970’s and then were transferred to the ICC. The purpose of this project is to update Recommendation 5: Abbreviations of Incoterms, in accordance with updated and newly released version of ICC rules for the use of domestic and international trade terms - Incoterms ® 2020.
Project ScopeThe current project proposal will modernize and update the Recommendation 5 and its annex based on Incoterms ® 2020 published by International Chamber of Commerce (ICC).
Project DeliverablesThe project deliverables are: • Deliverable 1: Revised Recommendation 5
Exit CriteriaThe exit criteria will be: • Exit Criteria for Deliv. 1: • Internal and external review logs showing how comments have been addressed • Final draft text ready for publication
Project Team Membership and Required Functional ExpertiseMembership is open to UN/CEFACT experts with broad knowledge in the area of: International Trade In addition, Heads of Delegations may invite technical experts from their constituency to participate in the work. Experts are expected to contribute to the work based solely on their expertise and to comply with the UN/CEFACT Code of Conduct and Ethics and the policy on Intellectual Property Rights
Geographical FocusThe geographical focus of the project is global.
Initial ContributionsThe following contributions are submitted as part of this proposal. It is understood that these contributions are only for consideration by the Project Team and that other participants may submit additional contributions in order to ensure that as much information as possible is obtained from those with expertise and a material interest in the project. It is also understood that the Project Team may choose to adopt one or more of these contributions “as is”. List any initial contributions: • Recommendation 5 Revision 5 (ECE/TRADE/C/CEFACT/2011/5) • Incoterms ® 2020 (ICC Publication: 723E)
Resource RequirementsParticipants in the project shall provide resources for their own participation. The existence and functioning of the project shall not require any additional resources from the UNECE secretariat.
Project Proposal Files