Several Uncommon Trade Terms

Several uncommon trade terms

1. CPT (Carriage Paid to): Freight paid to (designated destination), which means that the seller pays the freight for the goods to the designated destination. When the goods are handed over to the carrier, the risk of loss or damage to the goods, and the Additional costs arising from events that occur after the goods have been handed over to the carrier are transferred from the seller to the buyer.

2. CIP (Carriage and Insurance Paid to): freight and insurance paid to (designated destination), means that the seller pays the freight for the goods to the destination, and obtains cargo insurance for the buyer's risk of loss or damage to the goods in transit , conclude an insurance contract and pay the insurance premium.

While the goods are in the custody of the carrier, the risk of loss of or damage to the goods, as well as additional costs arising from events that occur after the goods are handed over to the carrier, passes from the seller to the buyer.

3. DAF (Delivered at Frontier): Delivery at the frontier (designated place), which means that the seller transports the goods to the frontier place designated by the buyer, and delivers the goods that have not been unloaded on the delivery vehicle to the buyer, and completes the delivery. Customs clearance of goods for export, bearing all costs and risks required to deliver goods to designated locations on the border.

This location is any country border (including transit countries), including the exporting country, in front of customs adjacent to the border. Import customs clearance procedures are handled by the buyer.

4. DES (Delivered EX Ship): Delivery on board at the port of destination (designated port of destination), which means that the seller transports the goods to the ship at the port of destination designated by the buyer and hands them over to the buyer, but does not go through import customs clearance procedures, and the seller is responsible for the delivery of the goods. All costs and risks until the arrival at the designated port of discharge, and the buyer shall bear all costs and risks of the unloading period of the goods from the ship.

5. DEQ (Delivered EX Quay): Delivery at the port of destination (designated port of destination) means that the goods are delivered to the buyer, but the import customs clearance procedures for the goods are not handled, and the seller is responsible for delivering the goods to the port of discharge and unloading them to the terminal. All costs and risks. The buyer bears all subsequent costs and risks.