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 responsivities 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

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