NSAB & INCO terms

NSAB2020

– is applicable on all freight agreements entered after January 1, 2020

All services rendered are subject to the General Conditions of the Nordic Association of Freight Forwarders (NSAB 2020).

As contracting party cf. § 3 B the conditions limits the freight forwarder’s liability for loss of, deterioration of, or damage to goods to SDR 8.33 per kilo and for delay to the amount of the freight, and for all other loss to SDR 100,000 in respect of each assignment (§ 21).

As intermediary cf. § 3 C the freight forwarder’s liability is limited to SDR 50,000 in respect of each assignment and totally in the event of any one occurrence to SDR 500,000 (§ 24).

For storage, the total liability is limited to SDR 500,000 for damage occurring in the same occasion (§ 25).

Special attention is directed to the network clause (§ 2); claims against the freight forwarder are statute-barred after one year (§ 28); and the lien on goods (§ 14) applies to both current and previous claims.

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NSAB2020 in different language versions - Danish, english, norwegian, finnish & swedish

Incoterms

New Incoterms 2020

Incoterms 2020 are the new rules of the International Chamber of Commerce on the interpretation of trade terms. It consists of 11 different terms which are separated into 2 groups; those applicable to all modes of transport and those only applicable to sea and inland waterway transport. The terms are to be agreed between a sender and a receiver of the goods.

New Incoterms 2020 applicable for all modes of transport
EXW: Ex works – (insert name of place)
FCA: Free carrier – (insert name of place)
CPT: Carriage paid to – (insert place & port of destination)
CIP: Carriage and insurance paid to – (insert place of point & port of destination)
DPU: Delivered unloaded – (insert named place)
DAP: Delivered at place – (insert named place)
DDP: Delivered duty paid – (insert named place)

New Incoterms 2020 only applicable for sea and inland waterway transport
FAS: Free alongside ship
FOB: Free on board
CFR: Cost and freight paid to (name of destination)
CIF: Cost, insurance and freight paid to (name of destination)

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