From 22nd February 2021, amendments to the Conditions of trade in biomass products (hereafter – ‘Trade Conditions’) shall enter into force:
- Start of biomass trade with ships. Trading will be conducted under the same conditions as the Incoterms 2020 FOB and CIF. It should be noted that biomass can also be traded under the Incoterms 2020 FAS conditions in standard biofuels trading (Annex 7 of Trade Conditions).
- A new product is included in trading – recycled wood (Annex 4 of Trade Conditions).
- Changes are made to the code principles used to describe delivery periods:
- The near delivery period year number will be included. For example, M03-2021, etc.;
- Half-year contracts will be named according to the delivery season: SUM-2021 means summer season of 2021; WIN-2021 – winter season of 2021
International Biofuel Exchange