Purpose : This study aims to examine the major amendments of Incoterms 2020 rule and to identify its characteristics and the implications of its practical application. Research design, data, methodology : There are composed of five chapters based on literature studies. Chapter Ⅰ deals with the introduction of this paper and Chapter Ⅱ explains the key amendments of Incoterms 2020 rules. Chapter Ⅲ deals with differences between Incoterms 2010 and 2020. Chapter Ⅳ suggests precautions for practical application of Incoterms 2020. Chapter V concludes this paper. Results : Major amendments to Incoterms 2020 included changes such as 1) B/L with an on-board notation and the FCA Incoterms rule, 2) Cost rule, 3) Different levels of Insurance cover in CIF and CIP, 4) Arranging for carriage with seller's or buyer's own means of transport in FCA, DAP, DPU, DDP, 5) Change in the three-letter initials for DAT to DPU, 6) Inclusion of security-related requirements within carriage obligations and costs, and 7) Explanatory Notes for Users. Conclusions : This paper would like to look at the points that should be taken into account when using them in practice and help to understand the revised rules both academically and practically.