Trade terms that we can accept
In the foreign trade industry, the trade terms for hardware fasteners are similar to those in other industries. Here are the main categories:
1. International Trade Terms (Incoterms)
EXW (Ex Works): The seller delivers the goods at their premises, and the buyer bears all transportation costs and risks.
FOB (Free On Board): The seller is responsible for delivering the goods to the port of shipment and loading them onto the vessel. The buyer bears the costs and risks of maritime transport.
CIF (Cost, Insurance, and Freight): The seller covers the costs of transporting the goods to the destination port and provides insurance. The buyer assumes the risk once the goods arrive at the port.
DDP (Delivered Duty Paid): The seller bears all costs and risks, including import duties, until the goods are delivered to the buyer's specified location.
2.Payment Terms
T/T (Telegraphic Transfer): The buyer makes payment via bank transfer. Common methods include advance T/T and post T/T.
L/C (Letter of Credit): A bank guarantees payment, ensuring the seller receives payment upon fulfilling the contract terms.
D/P (Documents Against Payment): The buyer receives shipping documents upon payment.
D/A (Documents Against Acceptance): The buyer receives shipping documents upon accepting a bill of exchange and pays at a later date.
3. Shipping Terms
Sea Freight:Suitable for large quantities, cost-effective.
Air Freight: Suitable for urgent or high-value goods, fast but expensive.
Land Freight: Suitable for neighboring countries or regions.Trainway Freight: applicable to countries or regions surrounding the China Europe freight train.
