Definition: DDU, or Delivered Duty Unpaid, is an international trade term that outlines the responsibilities, costs, and risks associated with the delivery of goods from the seller to the buyer. As part of the Incoterms (International Commercial Terms), DDU specifies that the seller is responsible for delivering the goods to a named destination in the…
Definition: CIF, or Cost, Insurance, and Freight, is a widely used international trade term that specifies the responsibilities and costs associated with the shipment and delivery of goods. CIF is primarily used in the context of maritime shipping and outlines that the seller is responsible for delivering the goods to a named port of destination…
Global supply chain challenges are compounding due to China’s strict lockdowns, especially in Shanghai, which is the home to the world’s busiest container port and a key gateway for foreign trade. The port accounted for more than 10% of the country’s total trade last year. The problem is trucks, not ships Due to the strict…