DAP (Delivered at Place) is an international trade term that defines the roles and responsibilities of the buyer and seller in a financial contract. Under DAP, the seller is responsible for delivering the goods, ready for unloading, at the named place of destination. The seller assumes all risks involved up to unloading, and unloading is at the buyers risk and cost. The buyer is responsible for import clearance and any applicable local taxes or import duties. DAP can apply to any mode of transport, and the buyer and seller should specify and agree upon the precise unloading spot at the named place of destination.

The DAP Incoterm provides a clear allocation of responsibilities and risks between the buyer and seller, allowing for flexibility in terms of the transportation of goods. The seller is responsible for anything associated with packaging, documentation, export approval, loading charges, and ultimate delivery. The buyer, in turn, takes over the risk and responsibility for unloading the goods and clearing them for import.

DAP can help buyers manage cash flow and inventory, especially for expensive items that require routine reordering from sellers. When products are routinely reordered, or specific quantities are guaranteed, a seller can ship it to a bonded warehouse close to the buyers destination. DAP can minimize the risks and obligations for newer importers, but they should be prepared to pay a steep price.