Main trade terms
Time:2021-07-03
Views:5439
Main trade terms
1. EXW (EX works): Factory delivery (designated place). It means that the seller delivers the goods from the factory (or warehouse) to the buyer. Unless otherwise specified, the seller is not responsible for loading the goods on the truck or ship arranged by the buyer, and does not go through the export declaration procedures. The buyer shall bear all costs and risks from the delivery from the seller’s factory to the final destination.
2. FOB (Free On Board): Delivery on board (designated port of shipment). This term stipulates that the seller must deliver the goods to the ship designated by the buyer at the designated port of shipment within the period of shipment stipulated in the contract, and pay until the goods pass the ship’s rail All costs and risks of loss or damage to the goods.
3. DDU (Delivered Duty Unpaid): Delivered Duty Unpaid (designated destination) means that the seller delivers the goods to the destination designated by the importing country and delivers them to the buyer without going through the import formalities or from the delivery vehicle Unload the goods and complete the delivery.
The seller shall bear all the costs and risks of the goods shipped to the designated destination, excluding any "taxes" that should be paid at the destination when customs formalities are required (including the responsibilities and risks of customs formalities, and the payment of handling fees , Duties, taxes and other fees).
4. DDP (Delivered Duty Paid): Delivery after duty paid in the importing country (designated destination) means that the seller transports the goods to the designated place in the importing country, and delivers the goods that have not been unloaded on the delivery means of transport to the buyer, and the seller Responsible for handling import customs formalities and delivering any import "taxes" that should be paid at the destination when customs formalities are required.
The seller shall bear all costs and risks before the goods are delivered to the buyer. If the seller cannot obtain the import license directly or indirectly, this term should not be used. DDP is the trade term with the greatest responsibility of the seller.
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Anna Zhang