Archive
Trade Terms
-
Payment Terms
Payment terms define when and how the buyer pays: advance payment, payment against documents, letter of credit, or deferred payment such as…
-
Certificate of Origin
A certificate of origin is an official document confirming the country where the goods were produced. It is required by customs authorities…
-
CIF (Cost, Insurance and Freight)
CIF is an Incoterms 2020 rule for sea and inland waterway transport under which the seller pays costs and freight to the…
-
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…
-
Customs Clearance
Customs clearance is the set of procedures by which goods are declared to customs, duties and VAT are assessed, and release for…
-
DDP (Delivered Duty Paid)
DDP is an Incoterms 2020 rule under which the seller bears all costs and risks of delivering the goods to the named…
-
Demurrage
Demurrage is a charge levied by the shipping line or terminal when a full container stays at the port beyond the allowed…
-
Detention
Detention is a charge for keeping the carrier’s container outside the port or terminal beyond the allowed free time, for example when…
-
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…
-
EXW (Ex Works)
EXW is an Incoterms 2020 rule under which the seller’s only obligation is to make the goods available at its own premises.…