In the first of his series of DCW articles on major issues surrounding potential revision of UCP, ICC Banking Commission Senior Technical Advisor Dave Meynell examines the concept of negotiation.
Ravi Kumar Jinugu is a Senior Trade Associate at Bank of New Zealand. He has been working in international trade for more than 15 years. He has CDCS and a Certificate in Trade Finance from the IIBF.
The ICC’s Incoterms® rules only reflect the most commonly used commercial practice. Therefore, where a situation demands and parties are in agreement, the rules may be amended to deviate from the default provisions or add to the rules to bring more precision.
