Nautical Term: DDP
Definition of DDP
Delivered Duty Paid (DDP) refers to an incoterm (International Commercial Terms) that represents the seller’s responsibility to deliver the goods to the buyer’s named place of destination, and to pay all customs duties, taxes, and any other charges related to the importation of the goods.
For instance, suppose a German seller agrees to sell 100 units of a product to a US buyer under the DDP incoterm. The seller will be responsible for packing and arranging for the transportation of the goods to the US buyer’s named place of destination. Additionally, the seller will also have to pay all customs duties, taxes, and any other charges related to the importation of the goods into the US on behalf of the buyer.
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