Navigating International Trade: Demystifying EXW, FOB, CFR, CIF, DDU, and DDP Terms
In the complex world of international trade, the choice of trade terms plays a crucial role in defining the responsibilities and risks of buyers and sellers. Six commonly used terms in international commerce are EXW (Ex Works), FOB (Free On Board), CFR (Cost and Freight), CIF (Cost, Insurance, and Freight), DDU (Delivered Duty Unpaid), and DDP (Delivered Duty Paid).