Daily Point 2101 - DAP – Delivered At Place

 

The Banking Tutor

                            Daily Point 2101

DAP – Delivered At Place 

This is one of the Incoterms . Under DAP terms, the risk passes from seller to buyer from the point of destination mentioned in the contract of delivery.

After arrival of the goods in the country of destination, the customs clearance in the importing country needs to be completed by the buyer, e.g. import permit, documents required by customs and etc., including all customs duties and taxes.

Under DAP terms, all carriage expenses with any terminal expenses are paid by seller up to the agreed destination point. The necessary unloading cost at final destination has to be borne by buyer under DAP terms. 

Sekhar Pariti

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