Want to learn how Import-Export business work.

What are major changes in Incoterms 2020? In simple words, Incoterms are terms for Buyer and seller of goods, which is both are agreed during International transactions. latest Incoterms 2020 is publish on September 2019 and officially come on effects on 1st January 2020 .This terms are accepted by all the governments and legal authorities around the world. The Incoterms are published by the   International chamber of commerce(ICC)   Latest Incoterms 2020 in provide  proper  guidance for them who do business related to Import and Export on daily basis.  Below Image provide guide for which Incoterms in where to transfer Risk of Exporter to Importer.  Overview of latest Incoterms 2020  EXW  In this term seller is only responsible for making the goods available at the seller's premises. The buyer bears the fully risk from there to the destination. In this case, seller mostly preferred full payment in advance from buyer This term m...