Revision of Recommendation 5
other
Project Details
Project Purpose
Recommendation 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 Scope
The 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 Deliverables
The project deliverables are: • Deliverable 1: Revised Recommendation 5Exit Criteria
The 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 publicationProject Team Membership and Required Functional Expertise
Membership 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 RightsGeographical Focus
The geographical focus of the project is global.Initial Contributions
The 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 Requirements
Participants 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