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Terms of Trade

  • Author:naky
  • Source:www.diecastingpartsupplier.com
  • Release on:2015-10-16
Delivered Duty Unpaid DDU delivered duty unpaid Delivered Duty Unpaid (...... designated destination) "means that the seller delivers the goods to the destination specified disposal of the buyer, not cleared for import, nor means of transport from the delivery of unload cargo delivery is complete. 

The seller to bear the goods to the destination specified all risks and costs, not included in the required customs formalities when importing country of destination should pay any "duty" (including customs formalities responsibilities and risks, as well as payment procedures fees, duties, taxes and other charges).

The buyer must bear the costs and risks of this "tax" and his failure to transport goods for import clearance caused.
CIF is cost insurance freight "cost, insurance and freight" means that when the goods pass the ship's rail at the port of shipment when the seller delivers.

The seller must pay the required goods to the named port of destination and freight costs, but after delivery risks of loss or damage and any additional costs due to events occurring that is transferred from the seller to the buyer.
In CIF the seller also has to procure the buyer of goods in transit risk of loss of or damage to the marine insurance.