The term “Incoterms 2020” refers to the latest revision of the International Commercial Terms, which came into effect on January 1st, 2020. These rules are updated roughly every ten years by the International Chamber of Commerce (ICC) to reflect changes in international trade practices. The 2020 version is the most current, replacing Incoterms 2010 and introducing updates such as the renaming of DAT (Delivered at Terminal) to DPU (Delivered at Place Unloaded). Always specify the Incoterms version (e.g., Incoterms 2020) in your contracts to avoid misunderstandings.