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Simple English definitions for legal terms
DDP
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A quick definition of DDP:
DDP stands for Delivered Duty Paid. This means that when you buy something, the seller is responsible for getting it to you and paying any taxes or fees that come with it. It's like having a delivery person who takes care of everything for you. DDP can also stand for Disclosure Document Program, which is a way for companies to share important information with their investors.
A more thorough explanation:
Definition: DDP is an abbreviation that can stand for two different things:
- Delivered Duty Paid: This is a term used in international trade to indicate that the seller is responsible for delivering the goods to the buyer at the destination, and has paid all costs associated with getting the goods there, including any taxes or duties.
- Disclosure Document Program: This is a program used by the Securities and Exchange Commission (SEC) to help investors make informed decisions about investing in securities. Companies that issue securities must provide certain information to the SEC, which is then made available to the public through the Disclosure Document Program.
Examples:
- Example 1: A company in the United States sells a product to a customer in France. The company agrees to deliver the product to the customer's address in France and pays all costs associated with getting the product there, including any taxes or duties. This is an example of a DDP transaction.
- Example 2: A company wants to issue securities to raise money. Before doing so, the company must provide certain information to the SEC through the Disclosure Document Program. This information includes financial statements, information about the company's management, and other relevant details. Once the information is provided, it is made available to the public so that investors can make informed decisions about whether to invest in the company. This is an example of the Disclosure Document Program.
These examples illustrate the two different meanings of DDP. In the first example, DDP refers to a specific type of international trade transaction where the seller is responsible for delivering the goods and paying all associated costs. In the second example, DDP refers to a program used by the SEC to help investors make informed decisions about investing in securities.