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Incoterms 2020 – what you need to know



Incoterms 2020 will come into effect on 1 January 2020. This webinar will provide a comprehensive overview of the changes made to the terms and how they will facilitate buyers and sellers during the lifecycle of a trade. Topics that will be covered include:

  • an overview of Incoterms and why they are important;
  • a summary of the differences between the 2010 and 2020 editions;
  • how best to incorporate Incoterms into agreements;
  • common pitfalls and misunderstandings;
  • how to select the most appropriate rule for a particular transaction (including how to use the new 'horizontal' layout of articles); and
  • a Q&A section to address queries on the terms.


Damian Honey

Damian Honey advises oil majors, national oil companies, commodity traders, producers, financiers and insurers on all aspects of their business, including physical and financial sale and purchase, finance and transport. He assists and represents clients in dispute resolution in commodities and freight-related matters. He specialises in energy and bulk commodities and metals, working with clients on matters such as trade finance (eg, documentary letters of credit, standby letters of credit, prepayments and repurchase agreements), onshore and offshore storage, sale and purchase documents, commodity derivatives and operational and legal issues that arise day to day in trading businesses. Mr Honey has been involved in a significant number of issues which have arisen out of the changes in the commodity markets (eg, Enron, MF Global, Qingdao, changing methodologies in the pricing of iron ore and alumina, the Macoil insolvency and the British Steel insolvency).

Alice Marques
Senior Associate 

Alice Marques qualified in 2009 and advises on all issues arising relating to dry shipping and commodity trading. She has advised charterers and owners on a wide range of issues arising under time and voyage charterparties and contracts of affreightment. She regularly advises buyers and sellers under contracts for the sale and purchase of a wide range of commodities – from wet cargoes to dry and 'hard' to 'soft', including in relation to Incoterms, bills of lading and letters of indemnity.  

Ms Marques has negotiated a variety of sale and purchase agreements, master sale and purchase agreements, marketing and lifting agreements, storage agreements, non-disclosure agreements and intracompany agreements. She has also completed secondments at Trafigura, ENI Trading & Shipping and Liberty House Group, as well as being part of a team providing remote support to BHP Billiton.

Martina Kelly
Senior Associate 

Martina Kelly qualified as a lawyer in 2009 and specialises in advising commodity traders, energy companies and investment banks on their physical commodities trading contracts and related aspects of shipping and international trade. Her practice focuses on the trading of petroleum products, crude oil, coal, metals and liquefied natural gas. On the dispute resolution side, she has assisted clients with several high-value arbitrations (before the International Chamber of Commerce, the London Court of International Arbitration and the London Maritime Arbitrators Association), Commercial Court disputes and complex multi-jurisdictional settlement negotiations. She has advised on draft oil trading general terms and conditions, drafted metals repurchase transaction documents together with their standard terms and reviewed and advised on various commodity purchase contracts. Ms Kelly has coordinated global commodity trading due diligence advice programmes for several clients. She has completed an in-house secondment to the London commodities legal team of an international investment bank.


Damian Honey
Alice Marques
Martina Kelly


17 October 2019
16:00 - 16:55 UTC
55 min