Explore the importance of Incoterms in international trade and their impact on the European logistics market. Incoterms is an international standard on the rights and obligations of the buyer and seller in the international transportation of goods.
Incoterms, or International Commercial Terms, play a crucial role in defining the responsibilities and liabilities of buyers and sellers in global trade. In the European logistics market, understanding and correctly applying Incoterms is essential for seamless and cost-effective international transactions. These terms, including EXW, FOB, CIF and DAP, govern everything from the point of origin to the final destination of the goods. For example, EXW and FOB give buyers more control over the transportation process, while other terms imply that sellers take charge. Interestingly, CIF prices are often quoted initially, but there is flexibility to offer prices based on different terms. Neele-Vat, with its extensive experience in international logistics, recommends choosing EXW or FOB, allowing maximum control while using our expertise to manage transportation to your specified destination. We will elaborate on each Incoterm and offer valuable insights for navigating the European logistics landscape.
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DAP - Delivered at destination (agreed place of destination)
Under the ICC Incoterms® Delivered At Place (DAP) rule, the seller is responsible for arranging and paying for all transportation up to the agreed destination. Up to this place, the seller also bears the risk for any damage to or loss of the goods.
DAP is a delivery condition suitable for all forms of transportation.
Characteristics:
Delivery: The seller must make the goods available to the buyer unloaded at the agreed destination.
Transportation Risk: During transportation, the seller is responsible for the risk of damage to or loss of the goods.
Transportation Costs: Transport costs up to the agreed place of delivery shall be borne by the seller. Any further transportation costs after that point shall be borne by the buyer.
Customs Formalities: The seller must arrange all customs formalities related to the export. In doing so, related costs, duties and taxes are also the responsibility of the seller. Customs formalities and related costs, duties and taxes for importation into the destination country are the responsibility and cost of the buyer.
Transportation Insurance: Neither the seller nor the buyer is required to obtain insurance for the goods.
Specification of place of delivery: This delivery condition should always specify where the transfer of the goods will take place. In DAP, this is referred to as: ... named place of destination (... named place of destination).
At Neele-Vat, we provide efficient and reliable handling of your ocean freight. We offer secure shipping, smart cargo management and customized logistics solutions. Whether you have a one-time shipment or regular shipments, we have the right expertise. Request a quote today and discover the benefits of our ocean freight services!
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