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Incoterms 2010
Roland Satchell VP CDCS


Strictly Private and Confidential

Meet the presenters:
 Charnell Williams, North America Import Product Manager
 Charnell is a Director in Citi‘s Global Transaction Services where she is a Product Manager
for Import Products and Services. In the International Banking community Charnell is
recognized as a Trade Expert with over 34 years of experience. She is on the BAFT-IFSA
Board of Directors, the ICC Drafting Committee for ISBP, and serves as an Advisory Member
of the Institute of International Banking Law & Practice, Inc.

 Roland Satchell, Global Trade Advisor for Citi.
 Roland is Vice President and Global Trade Advisor at Citi. Roland has over 20 years of
experience in the financial industry. Over the past 14 years he has been working in Global
Trade Operations serving in a number of operational managerial positions. Currently he is the
North American Trade Advisory Head and also the Global Trade Advisory Coordinator leading
Citi‘s Trade Advisory Global Team of Trade experts.



Contact Roland



+1 (813) 604-7183

These materials are provided for educational and illustrative purposes only and not as a
solicitation by Citi for any particular product or service. Furthermore, although the information
contained herein is believed to be reliable, the following does not constitute legal advice and
Citi makes no representation or warranty as to the accuracy or completeness of any
information contained herein or otherwise provided by it.



 What are they?
 What do they mean?

 Why do they exist?
 Main changes of Incoterms 2000 to 2010

 Who uses them?
 Incoterms 2010 – Format and Usage


What Are They?

 ―Incoterms‖: is an abbreviation of ―International Commercial Terms‖
 Published by the International Chamber of Commerce, Paris

 Latest version (effective Jan 01, 2011): ―Incoterms 2010‖


What Do They Mean?

 Incoterms define at the minimum level
– The division of costs between buyers and sellers
– The point at which delivery occurs, i.e., the point at which the risk of
loss or damage transfers from the seller to the buyer
– Which party is responsible for export and import clearance

 Incoterms also give some information regarding documentation, but it is
not their primary function


Why Do They Exist?

 Incoterms have been around since the first version 1936 and has been
revised last in 2000. This is now being replaced with the 2010 versio...
Incoterms 2010
Roland Satchell VP CDCS
Strictly Private and Confidential
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