Delivered Duty Paid Explained
Under DDP shipping terms, the seller covers all costs, including shipping, duties, taxes, and customs clearance.
North American Free Trade Agreement (NAFTA)
The North American Free Trade Agreement is a pact between Canada, Mexico, and the USA to promote economic integration and reduce trade barriers among member countries.
Letter of Credit (LC)
A letter of credit is a financial document issued by a bank on behalf of a buyer, guaranteeing payment to the seller upon the satisfactory completion of the specified terms and conditions of the trade transaction.
Free Trade Agreement
A free trade agreement is a treaty between two or more countries that facilitates the exchange of goods and services by reducing or eliminating tariffs, quotas, and other trade barriers.
Foreign Trade Zone (FTZ)
A foreign trade zone is a designated area within a country’s borders where goods can be stored, processed, and traded with certain benefits, such as duty exemption or deferral, to promote international trade and economic activity.
Export Transaction (ET)
Export transaction refers to the sale and transfer of goods or services from a seller located in one country to a buyer located in a foreign country, typically involving international trade and crossing national borders.
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