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7: Understanding INCOTERMS 2020*

(Runtime: 9:34 minutes)

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Using Incoterms for international shipping

These internationally standardized terms define the responsibilities of exporters and importers for various phases of the shipping process. Incoterms 2020 is the most recent version.They also clarify pricing, by spelling-out who is responsible for which shipping costs. Our goal is to briefly introduce INCOTERMS and give references for more detailed investigation.

*Incoterms 2020 is the most recent version.

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Bob Erwin, who teaches this session, recently retired as Senior International Business Consultant with the University of Georgia SBDC International Trade Center. He now operates the Export-U online training program for the Georgia District Export Council, of which he is a member. Bob has over 35 years of experience in the field of international trade. Prior to joining UGA Bob held various senior positions in government and industry, and he has worked in over 40 countries. Previous positions include: Commercial Vice Consul with the British Consulate General -Atlanta; Executive Director of the American Building Products Export Council- Washington, DC; and Director of the International Trade Division of the Georgia Department of Industry, Trade & Tourism. Mr. Erwin is a registered architect and holds a B.A., B.Arch, and M.Arch from Syracuse University. He has also served as President of the National Association of Small Business International Trade Educators (NASBITE), is a Certified Global Business Professional, and has been honored as a NASBITE Distinguished Fellow.

Sub-topics in this webinar include: why use incoterms, choosing the right Incoterm, what Incoterms mean (EXW or Ex Works, FCA or Free Carrier, FAS or Free Alongside Ship, FOB or Free Onboard, CFR or Cost and Freight, CPT or Carriage Paid to, CIF or Cost Insurance and Freight, CIP or Carriage and Insurance, DAF or Delivery at Frontier, DAP or Delivered at Place, DDP or Delivery Duty Paid).

Links to supporting material:  Presentation Handouts and Transcripts, Incoterms wall chart