Incoterms

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Incoterms Infographic - download PDF for full text.

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Delivery Duty Paid 

When goods are bought or sold “Delivery Duty Paid” (DDP) it means that the Seller delivers the goods to a place previously agreed to by the seller and the buyer. This can be any location. The agreed place of delivery (e.g. Rotterdam, Venlo, etc.) needs to be specifically named. The main difference with Delivery at Place (DAP) is that the seller takes care of the import formalities. 

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When goods are bought or sold "Ex Works" (EXW) it means that the Seller is making the goods available at their factory or warehouse. The buyer is then free to come and pick up the goods. Ex Works places full responsibility for cost and risk with the buyer, as the buyer has to arrange everything.

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On 3 November 2020, the Incoterms 2020 workshop will be held.

This workshop was specifically developed for employees who are involved in international trade and customs related activities on a regular/daily base. Therefore, the workshop is particularly relevant and suitable for (transport)planners and professionals in finance, administration and commerce.

The theory in combination with practical examples works well and clarifying

During this workshop, the following themes will be addressed and discussed:

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Since January the Incoterms 2020 are in effect. Every ten years these Incoterms are updated. You can read more about the most important changes compared to Incoterms 2010 in one of our earlier blogs in the Incoterms series.

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Risks and Costs for the Seller

The seller is responsible for arranging and paying for transportation to the ship and is also responsible for loading the goods onto the ship. The risk used to transfer to the buyer when the goods go over the rail of the ship. This was confusing as the risk would transfer when the goods were midair, while the seller was responsible for loading them onto the ship. Since Incoterms 2010 the rail of the ship is no longer mentioned. The risk transfers when the goods are delivered, in other words, placed on the ship. 

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Since January the Incoterms 2020 are in effect. Every ten years these Incoterms are updated. You can read more about the most important changes compared to Incoterms 2010 in one of our earlier blogs in the Incoterms series. The Incoterms we explained until now have been terms that are applicable to all modalities, road, rail, water, and air. The Incoterm in this blog is one of the Incoterms specifically for transport over water: Cost, Insurance and Freight (CIF).

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When goods are bought or sold “Delivery Duty Paid” (DDP) it means that the Seller delivers the goods to a place previously agreed to by the seller and the buyer. This can be any location. The agreed place of delivery (e.g. the terminal) needs to be specifically named. The main difference with Delivery at Place (DAP) is that the seller takes care of the import formalities and transportation to the final destination. The destination needs to be specifically named.

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Since the new version of the Incoterms was released at the end of last year, companies could use the new terms. As it is officially 2020, the new Incoterms 2020 are now in effect.

The Incoterms were first introduced in 1930 and have been facilitating global trade ever since. Every ten years they are revised and updated.

The Main Changes

1. Delivery at Terminal (DAT) is now Delivered Place Unloaded (DPU)

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When goods are bought or sold “Delivery at Place” (DAP) it means that the Seller delivers the goods to a place previously agreed to by the seller and the buyer. This can be any location. The agreed place of delivery (e.g. the terminal) needs to be specifically named. The buyer then takes care of the import formalities and transportation to the final destination. It is very similar to Delivery at Terminal (DAT).