Terms in international trade

International trade

International trade is a system of international commodity-money relations, consisting of foreign trade of all countries of the world.

International trade arose in the process of the birth of the world market in the XVI—XVIII centuries.

In the XII century  Antonio Margaretti, an Italian economist and author of the economic treatise "The Power of the Masses in the North of Italy" first used the term international trade.

The number of entries in this glossary is 4.
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Glossaries

Term Definition
DAP

The term means that the seller delivers whenproductit is placed at the disposal of the buyer on the arrived vehicle, ready for unloading, at the agreed destination. The seller bears all risks associated with the delivery of the goods to the named place. It is recommended that the parties determine the point at the agreed destination as accurately as possible, since the risks up to this point are borne by the seller. It is recommended that the seller provide contracts of carriage that accurately reflect this choice.

Synonyms- Delivered at Place, Delivery at destination
THAT

The term means that the seller delivers when the goods unloaded from the arriving vehicle are placed at the disposal of the buyer at an agreed terminal at a named port or destination. '" >Terminal" in this case, it is any place, closed or not, such as a berth, warehouse, container, automobile, railway or air cargo terminal. The seller bears all risks associated with the delivery of the goods and their unloading at the terminal at the named port or at the destination.

Synonyms- Delivered at Terminal, Delivery at the terminal
DDP

The term means that the seller delivers when the buyer is provided with goods cleared of customs duties required for importation on an arriving vehicle ready for unloading at the named destination. The term imposes maximum obligations on the seller. The seller bears all costs and risks associated with the delivery of the goods to the destination, and is obliged to perform customs formalities necessary not only for export, but also for import, pay any fees charged during export and import, and perform all customs formalities.

Synonyms- Delivered Duty Paid, Delivery with payment of duties
DPU

The term means that the seller delivers the goods, and the risk passes to the buyer when the goods unloaded from the arriving vehicle are placed at the disposal of the buyer at a named destination or at an agreed point in such a place, if such a point is agreed.

The seller bears all risks associated with the delivery of the goods and its unloading at the named destination. Therefore, in this termIncoterms delivery and arrival at the destination are the same.DPU- the only Incoterms term that requires the seller to unload the goods at the destination.

Synonyms- Delivered at Place Unloaded, Delivery at destination in unloaded state