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Incoterms for beginners | Global Trade Explained

Incoterms are international trade delivery terms that cover who is responsible for which part of the logistics process. Incoterms 2020 is the latest version and the one we'll be focusing on in this video, but we'll also be making some comparisons with Incoterms® 2000. This is a very easy and simplified tutorial, so anyone with no prior trade experience can quickly learn the basics of Incoterms: EXW, FOB, CFR, CIF, DDU, and DDP / DAP. We will explain the meaning of each of these terms with graphics and examples. 📌 NAVIGATION: 0:00 - What are Incoterms? 0:39 - Incoterms Basics 1:24 - EXW (Ex Works) 1:48 - FOB (Free on Board) 2:31 - CFR & CIF (Cost & Freight, Cost Insurance Freight) 3:05 - DDP & DDU / DAP (Delivery Duty Paid / Delivered at Place) #Incoterms #Incoterms2020 #internationalTrade #SupplyChain #Shipping #sourcing #amazonseller #Alibaba #FOB #customs #tax #duty ⚠️DISCLAIMER: The information provided throughout this video is for educational and informational purposes only. It does not substitute professional consultation of financial, legal or any other nature. Although TEXIN LTD is a sourcing agent, all the content shared on this channel does not constitute a service provider – client relationship. Anyone can freely comment on this video, but before you do please remember to abide by YouTube’s regulations. Keep discussions courteous. Racism, personal attacks, hate speech, baiting, trolling, doxing, etc., of any kind are not permitted and may be removed.