INCOTERMS 2010: ICC OFFICIAL RULES FOR THE INTERPRETATION OF TRADE TERMS
CPT Incoterms: Meaning & Explanation
The seller pays for the carriage of the goods up to the named place of destination. However, the goods are considered to be delivered when the goods have been handed over to the first or main carrier, so that the risk transfers to buyer upon handing goods over to that carrier at the place of shipment in the country of Export.
The seller is responsible for origin costs including export clearance and freight costs for carriage to the named place of destination (either the final destination such as the buyer's facilities or a port of destination. This has to be agreed by seller and buyer, however).
If the buyer requires the seller to obtain insurance, the Incoterm CIP should be considered instead.
Who covers the logistics charges?
Distribution of costs according to the Incoterm negotiated in the contract. Classification according to the increased level of obligations for the seller
Incoterms 2020
- EXW — Ex Works
- FCA — Free Carrier
- FAS — Free Alongside Ship
- FOB — Free on Board
- CFR — Cost and Freight
- CIF — Cost, Insurance and Freight
- CIP — Carriage and Insurance Paid Тo
- DAP — Delivered at Place
- DPU — Delivered Named Place Unloaded
- DDP — Delivered Duty Paid
Incoterms 2010
- CFR — Cost and Freight
- CIF — Cost, Insurance and Freight
- CIP — Carriage and Insurance Paid Тo
- CPT — Carriage Paid To
- DAP — Delivered at Place
- DDP — Delivered Duty Paid
- DAT — Delivered at Terminal
- EXW — EX Works
- FAS — Free Alongside Ship
- FCA — Free Carrier
- FOB — Free On Board
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Incoterms 2000
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Track & Trace System
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