Trade Term

DAF 边境交货

“Delivered at Frontier (... named place)”, i.e. ‘Delivered at Frontier (...... named place)’. It means that the seller undertakes the obligation to bring the goods ready for export to a named place on the frontier, to clear the goods for export and to deliver them before the customs border of the adjoining country, and the term applies mainly to goods transported by rail or road, but can also be used for other modes of transport.

FOB (Free on Board)

In FOB transactions, the buyer is responsible for dispatching a vessel to receive the goods, and the seller is required to load the goods onto a vessel designated by the buyer at the contracted port of shipment and within the specified period of time, and to notify the buyer in a timely manner. When the goods are loaded onto the designated vessel at the port of shipment, the risk is transferred from the seller to the buyer.

EXW（EXWork工厂交货）

Means that the seller delivers when it places the goods at the disposal of the buyer at the seller’s premises or at another named place (i.e., works,factory,warehouse,etc.). The sellers does not need to load the goods on any collecting vehicle,nor does it need to clear the goods for export, where sunch clearance is applicable.

CIP(Carriage and Insurance Paid to)

CIP means “Carriage and Insurance Paid to (...... named destination)”, CIP trade terms means that the seller delivers the goods to the carrier designated by the seller, but the seller must also pay the freight charges for the transportation of the goods to the destination, CIP terms also means that the buyer bears all the risks and additional costs of the seller after delivery. The CIP term also means that the buyer bears all the risks and additional costs after the seller delivers the goods. The seller must also insure the buyer's goods against the risk of loss or damage during transportation. Therefore, it is up to the seller to conclude the insurance contract and pay the insurance premium.