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The International Chamber of Commerce has launched Incoterms®2020, the newest edition of the globally recognised trade terms for the delivery of goods, providing certainty and clarity to international trade. Some of the main changes to the Incoterms®2020 include on board Bill of lading have been included in FCA due to the Banks insistence on them for Letters of Credit, and different levels of insurance coverage in CIF and CIP, and so on. And in the process of revising Incoterms®2020, many of the key elements of new Incoterms have already been leaked through the drafting group’s statements. There had been suggestions of the introduction of a new Cost and Insurance term(CNI). In the event, these changes have not materialized. The purpose of this article is to provide the main changes and implications for newly revised Incoterms