FAQ

  • [CIF - Cost, Insurance, and Freight] The supplier delivers the goods on board the vessel or procures the goods already so delivered. The risk of loss of or damage to the goods passes when the products are on the ship. The supplier must contract for and pay the costs and freight necessary to bring the goods to the named port of destination. The supplier also contracts for insurance cover against the buyer’s risk of loss of or damage to the goods during the carriage. The buyer should note that under CIF the supplier is required to obtain insurance only on minimum cover. Should the buyer wish to have more insurance protection, it will need either to agree as much expressly with the supplier or to make its own extra insurance arrangements.
  • [CPT - Carriage Paid To] The supplier delivers the goods to the carrier or another person nominated by the supplier at an agreed place (if any such site is agreed between parties). The supplier must contract for and pay the costs of carriage necessary to bring the goods to the named place of destination.
  • [CIP - Carriage Paid To] The supplier delivers the goods to the carrier or another person nominated by the supplier at an agreed place (if any such site is agreed between parties). The supplier must contract for and pay the costs of carriage necessary to bring the goods to the named place of destination.
  • [DPU - Delivered At Place Unloaded] The supplier delivers when the goods, once unloaded are placed at the disposal of the buyer at a named place of destination. The supplier bears all risks involved in bringing the goods to, and unloading them at the named place of destination.
  • [DAP - Delivered At Place] The supplier delivers when the goods are placed at the disposal of the buyer on the arriving means of transport ready for unloading at the named place of destination. The supplier bears all risks involved in bringing the goods to the named place.
  • [Delivered Duty Paid] The supplier delivers the goods when the goods are placed at the disposal of the buyer, cleared for import on the arriving means of transport ready for unloading at the named place of destination. The supplier bears all the costs and risks involved in bringing the goods to the place of destination. They must clear the products not only for export but also for import, to pay any duty for both export and import and to carry out all customs formalities.
  • A letter of credit (L/C), also known as a documentary credit or bankers commercial credit is a payment mechanism used in international trade to provide an economic guarantee from a creditworthy bank to an exporter of goods.
  • A telegraphic transfer (T/T) is an electronic method of transferring funds, employed primarily for overseas wire transactions.
  • Lead time is the time it takes for the supplier company to have the product ready for delivery.
  • If the MOQ(Minimum Order Quantity) is met, you can also purchase in small amounts.