CARM: What all importers need to know about CARM

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Terminology

D

DAP, Delivered At Place

Under DAP Incoterms, the seller delivers the goods to the buyer at the named place of destination, not cleared for import and not unloaded from any delivering means of transport. (For a complete list of Incoterm definitions including a chart of buyer and seller responsibilities, see Universal’s Incoterms 2010.)

Quick Tip #14
Don’t just insure the value of the goods

When insuring your freight, you are fully entitled to value your goods at a price above the base cost. Valuation of goods may include all freight charges, related costs, plus 10% (or more) to cover the administrative burden of processing a claim and to cover the insured’s profit. Since duty is still payable on damaged goods, make sure you insure the amount of duty as well.

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