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What are EXW, FOB, DDP Incoterms? | Global Logistics Explained 2021
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#incoterms #logisticslessons #startup
What are Incoterms and how do they affect the relationship between a buyer and seller when importing and exporting? Watch our short video for an introduction to EXW, FOB, DDP and the world of global logistics. It’s a beginner's guide that you won’t want to miss.
Whether you’re an importer or exporter, or just curious about logistics and global shipping, you’re likely to have stumbled upon Incoterms. Check out our short and sharp explainer that covers common Incoterms such as EXW (Ex Works), FOB (Free on Board), and DDP (Delivery Duty Paid). Perfect for beginners and those struggling with the concept of International Commercial Terms.
EXW (Ex Works) - The incoterm that places responsibility & all costs to the importer or buyer of the goods.
FOB (Free on Board) Due to its nature of splitting responsibility between the buyer & seller, FOB is one of the easiest Incoterms to understand for new importers or traders!
DDP (Duty on Board) DDP is a common Incoterm used when importing goods! Known as Delivered Duty Paid (DDP), this incoterm places almost all the responsibility on the seller. Every step is up to them besides unloading the goods at the destination… that gets handed over to the buyer!
About TGL:
Think Global Logistics is an owned and operated freight forwarder in Australia. Providing end to end solutions to businesses in all industries. Whilst we have offices globally, we still call Australia home.
We are a forward-thinking freight forwarder, with a sharp focus on our people and technology. Through our intelligent practices and thought leadership, we drive the industry to be serve our customers.
Our People, Your Advantage.
Explore our socials 🔍
Music sourced via Adobe iStock/ Keyframe Audio
Stock ID asset: 460286270
What are Incoterms and how do they affect the relationship between a buyer and seller when importing and exporting? Watch our short video for an introduction to EXW, FOB, DDP and the world of global logistics. It’s a beginner's guide that you won’t want to miss.
Whether you’re an importer or exporter, or just curious about logistics and global shipping, you’re likely to have stumbled upon Incoterms. Check out our short and sharp explainer that covers common Incoterms such as EXW (Ex Works), FOB (Free on Board), and DDP (Delivery Duty Paid). Perfect for beginners and those struggling with the concept of International Commercial Terms.
EXW (Ex Works) - The incoterm that places responsibility & all costs to the importer or buyer of the goods.
FOB (Free on Board) Due to its nature of splitting responsibility between the buyer & seller, FOB is one of the easiest Incoterms to understand for new importers or traders!
DDP (Duty on Board) DDP is a common Incoterm used when importing goods! Known as Delivered Duty Paid (DDP), this incoterm places almost all the responsibility on the seller. Every step is up to them besides unloading the goods at the destination… that gets handed over to the buyer!
About TGL:
Think Global Logistics is an owned and operated freight forwarder in Australia. Providing end to end solutions to businesses in all industries. Whilst we have offices globally, we still call Australia home.
We are a forward-thinking freight forwarder, with a sharp focus on our people and technology. Through our intelligent practices and thought leadership, we drive the industry to be serve our customers.
Our People, Your Advantage.
Explore our socials 🔍
Music sourced via Adobe iStock/ Keyframe Audio
Stock ID asset: 460286270
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