Customs

Since January 2020 the Incoterms 2020 are in effect. Every ten years these Incoterms are updated.

When goods are bought or sold “Delivery Duty Paid” (DDP) it means that the Seller delivers the goods to a place previously agreed to by the seller and the buyer. This can be any location. The agreed place of delivery (e.g. the terminal) needs to be specifically named.

In 2019 a new version of the Incoterms was released. Companies are now advised to use Incoterms 2020.

When goods are bought or sold “Delivery at Place” (DAP) it means that the Seller delivers the goods to a place previously agreed to by the seller and the buyer. This can be any location.

When goods are bought or sold “Delivery at Terminal” (DAT) it means that the Seller delivers the goods to a terminal at destination previously agreed to by the seller and the buyer. This can also be a road transportation hub or a quay.

When goods are bought or sold “Carriage and Insurance Paid” (CIP) it means that the Seller delivers the goods to a destination previously agreed to by the seller and the buyer.

The International Chamber of Commerce has launched the latest version of the International Commercial Terms (Incoterms): Incoterms 2020.

When goods are bought or sold "carriage paid" (CPT), this means that the seller delivers the goods to a destination agreed in advance between the seller and the buyer. It can also mean delivery to the buyer's preferred carrier.

Customs Support Group is AEO Certified. Great! But what does that mean? AEO stands for Authorized Economic Operator. It is a concept that has been established by the European Union in 2008. The main goals are increasing international supply chain security and facilitating legitimate trade.