Most common payment methods for distribution agreements are:
CFR (Cost and Freight)
A Term of Sale where the seller pays the costs and freight necessary to bring the goods to the named port of destination, but the risk of loss or damage of the goods, as well as any additional costs due to events occurring after the time the goods have been delivered on board the vessel, is transferred from the seller to the buyer when the goods pass the ship's rail in the port of shipment. The CFR term requires the seller to clear the goods for export.
CIF (Cost, Insurance and Freight) A Term of Sale where the seller has the same obligations as under the CFR but also has to procure marine insurance against the buyer's risk of loss or damage of the goods during the carriage. The seller contracts for insurance and pays the insurance premium. The CIF term requires the seller to clear the goods for export.
CIP (Carriage and Insurance Paid To)
A Term of Sale which means the seller has the same obligations as under CPT, but with the addition that the seller has to procure cargo insurance against the buyer's risk of loss or damage of the goods during the carriage. The seller contracts for insurance and pays the insurance premium. The buyer should note that under the CIP term the seller is required to obtain insurance only on minimum coverage. The CIP term requires the seller to clear the goods for export.
Consignment: Payments deferred until goods sold.
CPT (Carriage Paid To) A Term of Sale which means the seller pays the freight for the carriage of the goods to the named destination. The risk of loss or damage of the goods, as well as any additional costs due to events occurring after the time the goods have been delivered to the carrier, is transferred from the seller to the buyer when the goods have been delivered into the custody of the carrier. If subsequent carriers are used for the carriage to the agreed upon destination, the risk passes when the goods have been delivered to the first carrier. The CPT term requires the seller to clear the goods for export.
DAF (Delivered At Frontier)
A Term of Sale which means the sellers fulfill their obligation to deliver when the goods have been made available, cleared for export, at the named point and placed at the frontier, but before the customs border of the adjoining country.
Can be used for any transport mode or where there is more than one transport mode. The seller is responsible for arranging carriage and for delivering the goods, ready for unloading from the arriving conveyance, at the named place. (An important difference from Delivered At Terminal (DAT), where the seller is responsible for unloading.) Risk transfers from seller to buyer when the goods are available for unloading; so unloading is at the buyer’s risk. The buyer is responsible for import clearance and any applicable local taxes or import duties.
This rule can often be used to replace the Incoterms 2000 rules Delivered At Frontier (DAF), Delivered Ex Ship (DES) and Delivered Duty Unpaid (DDU).
The seller is responsible for arranging carriage and for delivering the goods, unloaded from the arriving conveyance, at the named place. Risk transfers from seller to buyer when the goods have been unloaded (an important difference from Delivered At Place (DAP), where the seller is not responsible for unloading). ‘Terminal’ can be any place – a quay, container yard, warehouse or transport hub. The buyer is responsible for import clearance and any applicable local taxes or import duties. Things to watch for: The place for delivery should be specified as precisely as possible, as many ports and transport hubs are very large. A useful rule, well suited to container operations where the seller bears responsibility for the main carriage.
Wholesale Products Terms:
Idxport also acts as a distributor for various raw materials and foods in stock and ready to ship directly from our fulfillment centers in the EU and the US to our local vendors within those regions. For Wholesale products, a full payment is required upfront and products will be shipped as soon as payment is confirmed or cleared.
Product Sourcing & Customization:
A 50% deposit of the total value of an order is required in advance of all orders to our partnering agent. Production of an order will only begin once the payment have been received into the Idxport agent account. The remaining 50% balance payment is required prior to the completion of the order. Quality Control Inspection, Collection, and Shipping of an order will only begin once the final payment have been received into the Idxport Account.
Payment Methods Payment:
Payment by Telegraphic (or bank) Transfer of funds is simple and easy. Crypto is also accepted (please see the list of crypto currencies from our exchance partner https://indodax.com/market ) as well as cash deposits via Money Gram and Wester Union.
Payments by bank transfer can be made in United States Dollars (USD) or in other currencies if agreed by all parites. We will advise you once we have received payment in our account, by email and also you will update in the client portal.