What does DDP stand for?

DDP is an abbreviation for Delivered Duty Paid. It is a delivery contract in which the seller undertakes all potential risks and costs connected with carrying goods until the customer receives the products at the destination. Shipping charges, export and import tariffs, insurance, and other expenses must be borne by the seller.

In practice, DDP stands for Delivered at Place (DAP). The delivery rules favor purchasers because the vendor bears the risks and is responsible for delivery. As a result, customers no longer have to suffer any costs upon delivery of goods.