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 RUclips’s regulations.
Keep discussions courteous. Racism, personal attacks, hate speech, baiting, trolling, doxing, etc., of any kind are not permitted and may be removed.

[@TEXININDUSTRIES]

Find out more about which Incoterms to use!
Check out our other video here: ruclips.net/video/zhozY2CEIAs/видео.html

[@AbdullahMahmoods]

This is the simplest and best way explanation of incoterms

[@MindfulMoments2000]

Visually the clearest explanation ever. Thank you

[@arjumandvillagecooking]

yes

[@pisces2690]

This is the simplest and best way explanation of incoterms that I've seen. Thanks for sharing 👍🏻

[@TEXININDUSTRIES]

Exactly. The basics that people need to know.

[@sinforfun]

Best version of incoterms for beginners! Thank you!

[@AlejandrioVasay]

Best video ever! Thanks for the graphics and simple explanation! ❤

[@arturrizzato1034]

Simple, objective and amazing presentation!

[@debbieOne2311]

Very simple and understandable. Thank you

[@Piniuli2]

I was really wondering what these terms are. Best explanation here!

[@TEXININDUSTRIES]

Thanks for your support! 😁

[@IDC45]

Great video, thanks for the simple explanation.

[@sabrinacheam1631]

Literally the most helpful video on incoterms

[@user-ig5go6qo3n]

Perfect explanation, thank you.

[@PrazMike]

great video, really useful for my research!

[@deadpool7053]

Simply explanation 👍

[@ismahansrod3141]

Well explained thank you love the short format

[@iTheHMZ]

Such a great way of explanation

[@Matt-dr5et]

Perfect, very well explained many thanks!

[@TEXININDUSTRIES]

Glad you found it useful

[@mariahchalichulu4057]

Best explanation ever ❤

[@wijayasie337]

Best explanation EVER!

[@TEXININDUSTRIES]

Thanks

[@user-rb5zm6bl6e]

Thank you!!

[@mohammedshad502]

Well Explanation 🙌🏻

[@nihafarheen]

Thank you!!!

[@harrisondarrel2755]

Thanks. Beautifully explained

[@TEXININDUSTRIES]

Glad it was useful! Make sure to check our other videos🤗

[@jeanstudytv6521]

great !! explained well!

[@TEXININDUSTRIES]

Thanks for your appreciation 🤗

[@lealudwig714]

Thank you so much for the great visual explanation. In "exw" in which buyer takes the risk, does it mean that buyer has to record the in-transit inventory in buyer's book at the point if goods leave seller ?

[@paulandrew4312]

wow! very impressive

[@amycirrus3390]

Thank you

[@ajitjoshi354]

Very good video. I am happy that DDU can be still used

[@TEXININDUSTRIES]

Yeah, a lot of people still use it. The closest term in Incoterms 2020 is DAP.

[@VikasVerma-np5fo]

If you are looking to import/ exports from /to the USA or Canada. We can help you with all your logistics, storage, Transloading and transportation needs of all kinds of freight.

[@Lindela.Matsenjwa]

Well explained, thank you so much

[@TEXININDUSTRIES]

glad it helped

[@OmarSlimWhite]

Awesome explanation!

[@TEXININDUSTRIES]

Thanks

[@tacticvideo]

Great video for Amazon entrepreneurs 💎

[@TEXININDUSTRIES]

Thanks for appreciating

[@Chinnaerr]

DDU : Shipper can arrange delivery + custom clearance ( consignee will pay it duty & taxes )
DDP : Shipper can arrange delivery+ custom clearance + Duty Taxes
It is opposite to EXW

[@sriloshini6482]

You explained more shortly 😊

[@VikasVerma-np5fo]

If you are looking to import/ exports from /to the USA or Canada.
We can help you with all your logistics, storage, Transloading and transportation needs of all kinds of freight.

[@user-fs4qb6rz7u]

Thanks ❤❤

[@arjumandvillagecooking]

great 👍👍
thanks

[@priow1239]

Amazing

[@user-fs4qb6rz7u]

Thanks

[@TheGoldfarmer]

awesome

[@joelsabu8660]

Nice 👍👍

[@clint3919]

I can see why DDU can be an optimal choice, for shippers delivering out of the country.

[@abdikadirmohamed7578]

I thought the insurance coveres the risk of the freight up until the destination port for CIF and the seller is responsible until then

[@user-ow2uk2zk8m]

When you say seller, you're referring to the shipping company correct?

[@Devilupz]

thanks

[@TEXININDUSTRIES]

You're welcome

[@dineshdinesh-sr1di]

Sir i need clear chart sheet for 11 regulations.

[@everythinginsideu3340]

Thank u. Am new here am having Co fusion buyer means that a buyer will further handle All the situation. In incoterm chart.

[@TEXININDUSTRIES]

Depends on the agreed delivery term.

[@ClixxCafe]

INCO-TERMS A MUST To Have Grasped Before Being Into The EXPORT/IMPORT/SHIPPING Business

[@leenacatta]

I finally get it 😭

[@TEXININDUSTRIES]

glad this video helped

[@hoangthainguyen2162]

What is the most common Incoterms 2020 rule used in recent years in the world? Why this rule is used widely in international trade? Can you answer me :((

[@AClogisticJames]

I have a question. EXW: Who is pay certificate of origin/ fumigaiton? seller or buyer?

[@sagarsarfale2482]

Seller

[@RajbirSingh-ol5qo]

i cant understand FCA and FAS , what is meant by free along side ship, what is this along side shipping ?

[@TEXININDUSTRIES]

FCA and FAS are not that frequently used, so we decided to leave them out to not make the video complicated for beginners.
FCA is Free Carrier, and it means the seller has to deliver the goods to a pre defined location. This could be a warehouse, an airport, a freight forwarder, or any other place.
FAS is Free along ship. It is almost the same as FOB, except the seller does not need to support loading on the vessel. So from the moment the container is next to the ship, ready for loading, the buyer supports all the costs and risks from there onward.
These terms are confusing for many people and are not so commonly used, but we will make a future video about them also.

[@RajbirSingh-ol5qo]

@@TEXININDUSTRIES Thank-you so much. I appreciate your teaching nd efforts.

[@ziguratu429]

@@TEXININDUSTRIES very useful videos you have. Thanks this also helps me a lot.

[@chrissie5457]

FAS=Free Alongside Ship（...named port of shipment）Under FAS, the seller only needs to bear the costs and risks to complete the export declaration at the side of the ship at the port of export, that is, on the dock beside the ship or on the small boat beside the large ship. I hope it helped.

[@zimlatest1081]

Mai chando from Msu Harare brought me here

[@vasilijepesic749]

Ништа не ваља овај видео dislike