Global Trade

Trade Deals Around the World is our monthly recurring update, which gives you a quick and easy update on what has been happening in the many trade deal negotiations going on around the world.

It has been four years since the United Kingdom decided to leave the European Union. Negotiations are still going, but a quick deal doesn’t seem to be near. Let’s have a look at where we stand currently.

When goods are bought or sold “Delivery Duty Paid” (DDP) it means that the Seller delivers the goods to a place previously agreed to by the seller and the buyer. This can be any location. The agreed place of delivery (e.g. the terminal) needs to be specifically named.

The Union Customs Code (UCC) wants to promote international competitiveness and improve export opportunities. To facilitate this they have developed four special procedures:

In 2019 a new version of the Incoterms was released. Companies are now advised to use Incoterms 2020.

When goods are bought or sold “Delivery at Place” (DAP) it means that the Seller delivers the goods to a place previously agreed to by the seller and the buyer. This can be any location.

When goods are bought or sold “Carriage and Insurance Paid” (CIP) it means that the Seller delivers the goods to a destination previously agreed to by the seller and the buyer.