CARM: What all importers need to know about CARM

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Terminology

D

DAT, Delivered At Terminal

Under DAP Incoterms, the seller delivers when the goods, once unloaded from the arriving means of transport, are placed at the disposal of the buyer at a named terminal at the named port or place of destination. The seller bears all risks and costs involved in bringing the goods to and unloading them at the terminal at the named place of destination. (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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