WHAT IS DAT




                                           WHAT IS DAT


DAT stands for “Delivered at Terminal” and like Dap it is also a new incoterm that has been incorporated or rather it has replaced two old incoterms in the latest version of incoterms i.e incoterm 2000. It has replaced the now outdated DES (Delivery at Ship) and DEQ (Delivery at Quay) incoterms.

DAT incoterm is used where there is more than one transport mode. In this incoterm the seller is obliged to arrange for carriage and for delivering the goods, unloaded from the arriving conveyance, at the named place. It is to note that the difference between DAT and DAP is that in DAT the seller is responsible for unloading the goods at the named place and in DAP the seller is not under any such obligation.

Once the goods have been unloaded the risk transfers from the seller to the buyer.

The seller’s obligations are to deliver the goods, its packaging and the documents required. The seller also pays for the customs at the origin, exit charge, inland transport charge at the country of the origin and at the destination country until the named place or port.

The buyer is under obligation to be responsible for the payment of goods, customs clearance on arrival, fees payment and transportation of goods from named place to delivery.
KNOW MORE ABOUT-WHAT IS DAT
READ MORE-Freight Forwarding Online, Buy & Sell Ocean Freight | Tronslog.com

Comments

Post a Comment

Popular posts from this blog

WHAT IS CFR

Image
                                                    WHAT IS CFR CFR is "Cost and Freight". This incoterm is only for the maritime shipping. In this incoterm the seller does not only delivers the goods to the buyer but he or she is also responsible for goods to be transported to the destination port and their transportation costs. It is commonly used where where the seller has direct access to the vessel for loading. For example bulk cargos and non containerised goods. The seller under CFR undertakes the responsibility of delivering the goods to the port mentioned in the contract, get a customs clearance from the origin and pays for the international freight. All the rules of the previously mentioned incoterms apply to CFR also. The seller however is not responsible for the insurance of the goods The insurance of the goods is a responsibility of ...
Read more

FTWZ - Free Trade Warehousing Zone

Image
                                      FTWZ - Free Trade Warehousing Zone Free trade warehousing zone (FTWZ) as per law, are Special Economic Zones (SEZ) in India. Govt. of India have allowed development of FTWZ in order to create Warehousing & related infrastructure to augment economic growth, create employment opportunities and to ensure growth in exports. FTWZs are Deemed Foreign Territories / Ports / Warehouse for Storage and Other value added activities under the Customs Law. FTWZ units are allowed to hold inventory on behalf of Foreign Suppliers/ Domestic Buyers . FTWZ law allows multiple transfer of ownership transactions without removal of the goods out of FTWZ, thus ensuring the trading chain to be as close as possible and as may be required, ensuring that there is no cascade of indirect taxes / compliances and avoids increase in transaction cost. The fiscal benefits al...
Read more

WHAT IS CIF

Image
                                                    WHAT IS CIF CIF is short form of "Cost, Insurance and Freight". Like the CFR this incoterm is also exclusively used for shipping. Also like the CFR CIF is used for bulk goods and non containerised shipments. This indicates that the seller is responsible for the cost as well as the freight of the goods to the destination port which is decided by the buyer. In addition to all of this the seller must also provide insurance for the goods being transported. In CIF the risk transfer point is also different from other incoterms. The risk transfer point is not the same cost transfer point as is the case with other incoterms. Under CIF the risk is transferred when the goods get loaded on the ship at the origin of the shipment. The seller is obliged to give insurance to the goods and deliver the shipment ...
Read more