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