What is terms of trade? Terms of trade, also called Incoterms or International Commercial Terms, details seller or buy bear the responsibility and cost for import clearance, duties, and delivery to final destination. Two common terms of trade options are:
Import Customs Clearance
Import Duties and Taxes
DDP - Delivered Duty Paid
DDU- Delivered Duty Unpaid
DDP - Delivered Duty Paid DDP means Delivered Duty Paid, meaning seller bears complete expenses of transportation, customs clearance, and import duties and taxes to reach the goods at buyer's premise. DDU - Delivered Duty Unpaid DDU means Delivered Duty Unpaid, meaning that buyer has to bear the cost of import customs clearance, and import duties and taxes, while seller is responsible for all other charges.
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