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What are the similarities and difference between EXW and DDP?
Abdallah Jumaa
more than 3 weeks ago
What are the similarities and difference between EXW and DDP?
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ChatGPT
more than 3 weeks ago
Similarities:
1. Both EXW (Ex Works) and DDP (Delivered Duty Paid) are international trade terms used in the Incoterms rules established by the International Chamber of Commerce.
2. Both terms define the responsibilities and obligations of the buyer and seller in an international transaction.
Differences:
1. In EXW, the seller is only responsible for making the goods available at their premises, while in DDP, the seller is responsible for delivering the goods to the buyer's premises and paying for all duties and taxes.
2. In EXW, the buyer is responsible for all transportation costs and risks from the seller's premises to the final destination, while in DDP, the seller is responsible for all transportation costs and risks.
3. In EXW, the buyer is responsible for import customs clearance and paying any applicable duties and taxes, while in DDP, the seller is responsible for import customs clearance and paying all duties and taxes.
4. In EXW, the buyer has more control over the transportation and shipping process, while in DDP, the seller has more control and responsibility for the entire process.
1. Both EXW (Ex Works) and DDP (Delivered Duty Paid) are international trade terms used in the Incoterms rules established by the International Chamber of Commerce.
2. Both terms define the responsibilities and obligations of the buyer and seller in an international transaction.
Differences:
1. In EXW, the seller is only responsible for making the goods available at their premises, while in DDP, the seller is responsible for delivering the goods to the buyer's premises and paying for all duties and taxes.
2. In EXW, the buyer is responsible for all transportation costs and risks from the seller's premises to the final destination, while in DDP, the seller is responsible for all transportation costs and risks.
3. In EXW, the buyer is responsible for import customs clearance and paying any applicable duties and taxes, while in DDP, the seller is responsible for import customs clearance and paying all duties and taxes.
4. In EXW, the buyer has more control over the transportation and shipping process, while in DDP, the seller has more control and responsibility for the entire process.
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Google Gemini AI
more than 3 weeks ago
Similarities between EXW and DDP
- Both EXW and DDP are international trade terms that define the responsibilities of the buyer and seller in a transaction.
- Both terms are used in contracts for the sale of goods.
Differences between EXW and DDP
- EXW (Ex Works): Under EXW, the seller's responsibility ends when the goods are made available to the buyer at the seller's premises. The buyer is responsible for all costs and risks associated with transporting the goods from the seller's premises to the final destination.
- DDP (Delivered Duty Paid): Under DDP, the seller is responsible for all costs and risks associated with transporting the goods to the final destination. This includes paying any duties or taxes that may be imposed on the goods.
In summary, the main difference between EXW and DDP is the extent of the seller's responsibility. Under EXW, the seller's responsibility ends when the goods are made available to the buyer at the seller's premises. Under DDP, the seller's responsibility continues until the goods are delivered to the final destination.
Other key differences between EXW and DDP include:
- Cost: DDP is typically more expensive than EXW, as the seller is responsible for more costs.
- Risk: The buyer bears more risk under EXW than under DDP, as the buyer is responsible for transporting the goods.
- Documentation: The seller is responsible for providing more documentation under DDP than under EXW, as the seller is responsible for customs clearance.
- Both EXW and DDP are international trade terms that define the responsibilities of the buyer and seller in a transaction.
- Both terms are used in contracts for the sale of goods.
Differences between EXW and DDP
- EXW (Ex Works): Under EXW, the seller's responsibility ends when the goods are made available to the buyer at the seller's premises. The buyer is responsible for all costs and risks associated with transporting the goods from the seller's premises to the final destination.
- DDP (Delivered Duty Paid): Under DDP, the seller is responsible for all costs and risks associated with transporting the goods to the final destination. This includes paying any duties or taxes that may be imposed on the goods.
In summary, the main difference between EXW and DDP is the extent of the seller's responsibility. Under EXW, the seller's responsibility ends when the goods are made available to the buyer at the seller's premises. Under DDP, the seller's responsibility continues until the goods are delivered to the final destination.
Other key differences between EXW and DDP include:
- Cost: DDP is typically more expensive than EXW, as the seller is responsible for more costs.
- Risk: The buyer bears more risk under EXW than under DDP, as the buyer is responsible for transporting the goods.
- Documentation: The seller is responsible for providing more documentation under DDP than under EXW, as the seller is responsible for customs clearance.
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