Do the letters DAP, DDP, etc. refer to INCOTERMS or are they INTERNATIONAL COMMERCE TERMS.

They are three-letter acronyms that describe the form of the delivery agreed between the selling and the buying party.

They are used to specify the costs of the international commercial transactions, they divide the responsibility between the selling and the buying party and reflex the current trends in the international commerce.

Below you can find the most frequent ones:

FOR ALL THE KINDS OF TRANSPORT:

EXW (Ex Works): At the plant
CPT   (Carriage Paid To Porte): Transport paid to the (e.g. airport)
CIP   (Carriage and Insurance Paid To Porte): Transport and insurance paid to the (e.g. airport)
DAP   (Delivered at Place): Delivery door to door
DDP   (Delivered Duty Paid): Delivery to the buyer with the customs paid by the seller

 

FOR MARITIME AND RIVER TRANSPORT:

FOB (Free on Board): Delivery to the board (vessel)

Generally the most wildly used one is DAP, when the selling party pays the transport costs, followed by DDP, when the selling party pays both the transport and customs followed by CPT, when the transport is paid by the selling part to an airport, maritime port, river port etc.

In world Pack we provide that kind of services regularly, so if you need one of them just contact us.