DDP (Delivered Duty Paid) and DDU (Delivered Duty Unpaid) are two common incoterms used in international trade. DDP means that the seller is responsible for delivering the goods to the buyer’s premises and paying all duties and taxes associated with the importation of the goods. DDU, on the other hand, means that the seller is responsible for delivering the goods to the buyer’s premises, but the buyer is responsible for paying any duties and taxes associated with the importation of the goods. Businesses need to carefully consider which incoterm to use when negotiating international trade agreements to ensure that both parties clearly understand their responsibilities and obligations.
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