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Incoterms 2020 Explained With Examples

Incoterms 2020 explained with examples using CPT, CFR and CIF. Incoterms are like "codewords" used in shipping and logistics so there's no doubt as to where the responsibilities lie between the buyer and the seller. Incoterms let the buyer and seller know exactly what their responsibilities are when it comes to the place of delivery, cost and risk. 0:00 Introduction to Incoterms 2020 0:42 Why We Need Incoterms - The History 3:44 What Are Incoterms? 5:23 Why Do We Use Incoterms? 6:35 CIF 9:17 Place, Cost, Risk 15:52 CPT 20:16 CFR 20:28 CIF (Again) 25:35 Conclusion For more information see the ABTS® Website: https://www.abtslogistics.co.uk/ For more FREE, practical knowledge on various import export subjects check out our blog: https://www.abtslogistics.co.uk/blog/ Online Premium Courses: If you're really serious about starting your own import export business or getting into it as a career, check out our premium online courses: Export Documentation and Procedure: https://www.abtslogistics.co.uk/full-... Become a Successful Export Agent: https://www.abtslogistics.co.uk/impor... How To Buy and Sell Using a Letter of Credit: https://www.abtslogistics.co.uk/lette... #incoterms #incoterms2020 #incotermsexplained