DDP is short for Delivered Duty Paid. This means that a seller of a product has to take over all costs and risks of a transport to a previously determined location, including all customs formalities and costs. Therefore, DDP is quite comfortable for the buyer.
The seller has to perform many duties:
- enclose the invoice and documentation
- packaging of the products
- care for export license, export duties and export formalities
- transport to the actual means of transportation
- fees for the loading of the products
- proof of delivery
- import formalities, import tariffs and taxes
- costs of all inspections
- delivery to a previously detailed destination
The previously detailed destination can be directly at the buyer, but also any other place that seller and buyer have determined.