Archive
Trade Terms
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CIF (Cost, Insurance and Freight)
Cost, Insurance and Freight is an Incoterms 2020 rule for sea and inland waterway transport under which the seller pays freight to…
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Commercial Invoice
The commercial invoice is the seller’s billing document describing the goods, quantities, unit prices, total value, currency, delivery terms and parties. Customs…
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Customs Clearance
Customs clearance is the process by which goods are formally declared to customs authorities, duties and taxes are assessed and paid, and…
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DDP (Delivered Duty Paid)
DDP (Delivered Duty Paid) is an Incoterms 2020 rule under which the seller bears all costs and risks of delivering goods to…
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Demurrage
Demurrage is a charge levied by a shipping line or terminal when a loaded container remains at the port beyond the contractually…
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Detention
Detention is a charge imposed by a carrier when its container is kept outside the port or terminal beyond the allowed free…
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EUR.1 Movement Certificate
The EUR.1 is a movement certificate used to claim preferential import duties under free-trade agreements. For trade between Ukraine and the EU…
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EXW (Ex Works)
Ex Works is an Incoterms 2020 rule under which the seller makes goods available at its own premises and the buyer assumes…
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FOB (Free On Board)
FOB is an Incoterms 2020 rule for sea transport under which the seller delivers goods on board the buyer’s nominated vessel at…
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Freight Forwarder
A freight forwarder is a specialist logistics intermediary that organises international transport on behalf of shippers, coordinating bookings, documentation, customs clearance, and…