Tag: Incoterm

DDP Incoterm, or Delivered Duty Paid, is a crucial concept in international shipping that significantly impacts the plastic packaging industry, particularly within the Flexible Intermediate Bulk Container (FIBC) sector. Understanding DDP is essential for businesses engaged in the import and export of goods, as it outlines the responsibilities, costs, and risks associated with shipping. This blog delves into the intricacies of DDP, providing valuable insights for stakeholders in the FIBC market. Understanding DDP Incoterm The DDP Incoterm is one of […]

DAP Incoterm, short for Delivered at Place, is a widely used international shipping term that defines the responsibilities of buyers and sellers in cross-border transactions. Under DAP, the seller is responsible for delivering goods to a specified location—such as a warehouse, port, or distribution center—while the buyer handles import duties, taxes, and unloading. This Incoterm offers a balanced approach to global trade, giving sellers control over transport logistics and buyers authority over customs clearance. In this article, we’ll explore what […]

CIF, or Cost, Insurance, and Freight, is a crucial term in international shipping and trade that show the responsibilities of both the buyer and the seller in transactions involving the transportation of goods. Understanding this incoterm is essential for businesses engaged in international trade, as it clarifies costs, risks, and obligations associated with shipping. This article delves into what CIF means in shipping, the obligations of sellers and buyers, insurance requirements, when to use it, and how it compares to […]

FOB, or “Free On Board”, is a critical term in shipping that plays a significant role in international trade. Understanding FOB is essential for both buyers and sellers as it defines the responsibilities and liabilities associated with transporting goods. This article will delve into the meaning of FOB and the responsibilities of both parties in the shipping process, along with its benefits and drawbacks. We will also explore the importance of FOB in modern shipping practices and discuss when to […]

In the dynamic world of international trade, understanding and selecting the right Incoterms is crucial for successful transactions. These terms define the responsibilities of buyers and sellers, including who pays for shipping, insurance, and tariffs. In this comprehensive guide, we will delve into the intricacies of Incoterms, helping you choose the appropriate term for your import/export contracts. What are Incoterms? Incoterms, or International Commercial Terms, are a set of rules published by the International Chamber of Commerce (ICC) that outline […]

In international trade, understanding the various Incoterms is crucial for effective shipping and logistics management. One of the most commonly used terms is EXW Incoterm (Ex Works), which outlines specific responsibilities for both the seller and the buyer in a transaction. This article will delve into what EXW means in shipping terms, its obligations, advantages and disadvantages, and answer some frequently asked questions. What Does EXW Incoterm Mean in Shipping Terms? EXW, or Ex Works, is an Incoterm that indicates […]