Incoterms on TradeKey.com - Part 2

As discussed in the previous part of this article about incoterns on tradekey.com international chamber of commerce has published Incoterns for international commercial transactions. To remind the users I am repeating that while trading at tradekey you must follow the safety guidelines by an international body. Some of them were discussed in the previous article while some other are discussed in this part.

Carriage and Insurance Paid To (CIP): The risks and obligations of the supplier continue until the product is delivered to the destination of buyer. The supplier should pay the cost of delivery and insurance.

Delivered at Frontier (DAF): The risks and obligations of the supplier continue until the product is delivered the destination that is designated by the buyer, provided the product has not been unloaded from the transport.

Delivered Ex Ship (DES): The risks and obligations of the supplier continue until the product reaches the port, and onboard shipping vessel, provided it has not been cleared for import yet.

Delivered Ex Quay (DEQ): The risks and obligations of the supplier continue until the product is unloaded into quay (wharf or dock) at the designated port, provided that it has not yet cleared for import.

Delivered Duty Unpaid (DDU): The risks and obligations of the supplier continue until the buyer accepts the delivery of products at the designated designations, if it is not yet unloaded and cleared for import. Buyers should clear products for the import.

Delivered Duty Paid (DDP): The supplier is responsible for all the transportation costs including delivery fees and import.

These are some of the points of Incoterm. Although all the necessary information has been discussed in this article and its first part but even then it is better to read the actual terms as you should be very careful in business plans. Business dealings are not like buying a toilet tissue or a set of shoes, it is a very sensitive matter and hence anything done must be discussed before with a legal advisor. If you do not have yet any legal advisor then you should urgently search for a qualified lawyer who has experience of being a legal advisor or have worked on businesses cases and hire him as your legal advisor.