Incoterms 2020 CPT Leave a comment

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Incoterms 2020 CPT

Incoterms are international trade rules that indicate the share of the costs and responsibility between the buyer and the seller. From the beginning of 2020, the updated Incoterms 2020 rules will come into force. One of the rules is CPT (Carriage Paid To). So what’s the CPT and how to work this rule. As usual, we also discuss from cost, obligation, delivery, insurance and conclusion to understand this term, OK let start learn this CPT.

Incoterms 2020 CPT – Allocation of costs

The seller takes:
1. The seller takes all costs relating to the goods and their transport until delivery to the carrier;
2. The seller takes loading costs (at the carrier) and possible unloading costs;
3. The seller takes costs of providing the seller with documents stating that goods have been delivered;
4. The seller also takes transit costs for the buyer’s account and the costs of export clearance;
5. The seller takes costs incurred by the buyer related to export formalities.
Let see the buyer’s takes costs.

The buyer takes:
1. The buyer takes all costs relating to the goods and their transport from the moment they were handed over to the carrier and excluding the seller’s obligations
2. The buyer takes transit costs excluding the seller’s obligations stated in the contract of carriage;
3. The buyer takes unloading costs, unless it is the seller’s obligation stated in the contract of carriage;
4. The buyer takes import clearance and transit costs;
5. The buyer also need takes possible costs incurred by the seller related to import formalities.

Incoterm 2020-Obligations

So What are the seller’s obligations?
1. Seller provides commercial invoice and other required documents in paper or electronic form.
2. Seller is responsible of delivery of goods to the carrier at the place of delivery on the agreed date or within the agreed period.
3. Seller is responsible for damage or loss of goods until they are handed over to the carrier at the named point and within the specified time.
4. Seller has to contract or organize the transport of goods to the named place of destination. If such a place does not exist, the seller can choose the point that best suits this purpose.
5. One of the seller obligations is operating according to all transport-related security requirements for transport to the destination.
6. Seller has to carry out and pay for export clearance, as well as assisting the buyer with import clearance.
7. Seller counts and weigh goods and, if required, packs the goods at its own expense.
8. Seller informs the buyer about the delivery of goods to the carrierand provides the buyer with documents authorizing the buyer to take over the goods.
9. The seller is not obliged to make a contract of insurance but must provide information for this purpose at the buyer’s request.

What are the buyer’s obligations?
1. Buyer takes up the delivery of the goods.
2. Buyer takes responsibility for damage or loss of goods from the time they have been handed over to the carrier.
3. Buyer accepts documents provided by the seller.
4. Buyer has to carry out and pay for import clearance, as well as assist the seller with export clearance.
5. Buyer need inform the seller about the place and date of delivery.
6. The buyer is not obliged to make a contract of carriage and insurance

Incoterm 2020-Delivey Of Goods, Insurance And Transport

If the CPT Incoterms rule is applied, the seller must contract for the carriage of the goods and hand them over to the carrier. At this point, the risk passes to the buyer.
The involved parties are not required to make a contract of insurance, but it is recommended.

CPT Incoterms can be used for any mode of transport as well as for multi-modal transport.

Incoterm 2020-Conclusion

Compared to EXW, with the CPT rule, the seller at his expense at the request of the buyer provides him with transport documents, and the buyer is not obliged to contract for the carriage of the goods. Unlike as it is stated in the rule CIP, we will discuss this rule later. The buyer does not have to provide the information and documents needed for obtaining insurance if at the request of seller.

In comparison with the Incoterms 2010 CPT, from 2020 the seller is not obliged to provide information at the buyer’s request for obtaining insurance.

So that’s the all content for CPT, the next time we talk about the CIP, the second rule for C Group.
we will discuss for C group. From CPT, CIP, CFR and end with CIF, for C Group Learn.

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CPT

A1 GENERAL OBLIGATIONS
The seller must provide the goods and the commercial invoice in conformity with the contract of sale and any other evidence of conformity that may be required by the contract.
Any document to be provided by the seller may be in paper or electronic form as agreed or, where there is no agreement, as is customary.

B1 GENERAL OBLIGATIONS
The buyer must pay the price of the goods as provided in the contract of sale.
Any document to be provided by the buyer may be in paper or electronic form as agreed or, where there is no agreement, as is customary.

A2 DELIVERY
The seller must deliver the goods by handing them over to the carrier contracted in accordance with A4 or by procuring the goods so delivered. In either case the seller must deliver the goods on the agreed date or within the agreed period.

B2 TAKING DELIVERY
The buyer must take delivery of the goods when they have been delivered under A2 and receive them from the carrier at the named place of destination or if agreed, at the point within that place.

A3 TRANSFER OF RISKS
The seller bears all risks of loss of or damage to the goods until they have been delivered in accordance with A2,with the exception of loss or damage in the circumstance described in B3.

B3 TRANSFER OF RISKS
The buyer bears all risks of loss of or damage to the goods from the time they have been delivered under A2.
If the buyer fails to give notice in accordance with B10, then the buyer bears all risks of loss of or damage to the goods from the agreed date or the end of the agreed period for delivery, provided that the goods have been clearly identified as the contract goods.

A4 CARRIAGE
The seller must contract or procure a contract for the carriage of the goods from the agreed point of delivery, if any, at the place of delivery to the named place of destination or, if agreed, any point at that place. The contract of carriage must be made on usual terms at the seller´s cost and provide for carriage by the usual route in a customary manner of the type normally used for carriage of the type of goods sold. If a specific point is not agreed or is not determined by practice, the seller may select the point of delivery and the point at the named place of destination that best suit its purpose.
The seller must comply with any transport-related security requirements for transport to the destination.

B4 CARRIAGE
The buyer has no obligation to the seller to make a contract of carriage.

A5 INSURANCE
The seller has no obligation to the buyer to make a contract of insurance. However, the seller must provide the buyer, at the buyer s request, risk and cost with information in the possession of the seller that the buyer needs for obtaining insurance.

B5 INSURANCE
The buyer has no obligation to the seller to make a contract of insurance.

A6 DELIVERY/TRANSPORT DOCUMENT
If customary or at the buyer´s request, the seller must provide the buyer, at the seller´s cost, with the usual transport document[s] for the transport contracted in accordance with A4.
This transport document must cover the contract goods and be dated within the period agreed for shipment. If agreed or customary, the document must also enable the buyer to claim the goods from the carrier at the named place of destination and enable the buyer to sell the goods in transit by the transfer of the document to a subsequent buyer or by notification to the carrier.
When such a transport document is issued in negotiable form and in several originals, a full set of originals must be presented to the buyer.

B6 DELIVERY/TRANSPORT DOCUMENT
The buyer must accept the transport document provided under A6 if it is in conformity with the contract.

A7 EXPORT/IMPORT CLEARANCE
a)Export clearance
Where applicable, the seller must carry out and pay for all export clearance formalities required by the country of export, such as:
•export licence;
•security clearance for export;
•pre-shipment inspection; and
•any other official authorisation.

b) Asslstance wlth import clearance
Where applicable, the seller must assist the buyer, at the buyer´s request, risk and cost, in obtaining any documents and/or information related to all transit/import clearance formalities, including security requirements and pre-shipment inspection, needed by any country of transit or the country of import.

B7 EXPORT/IMPORT CLEARANCE
a) Assistance with export clearance
Where applicable, the buyer must assist the seller at the seller´s request, risk and cost in obtaining any documents and/or information related to all export clearance formalities, including security requirements and pre-shipment inspection, needed by the country of export.

b) Import clearance
Where applicable, the buyer must carry out and pay for all formalities required by any country of transit and the country of import, such as:
•import licence and any licence required for transit;
•security clearance for import and any transit;
•pre-shipment inspection; and
•any other official authorisation.

A8 CHECKING/PACKING/MARKING
The seller must pay the costs of those checking operations (such as checking quality, measuring, weighing counting) that are necessary for the purpose of delivering the goods in accordance with A2.

The seller must, at its own cost, package the goods, unless it is usual for the particular trade to transport the type of goods sold unpackaged. The seller must package and mark the goods in the manner appropriate for their transport, unless the parties have agreed on specific packaging or marking requirements.

B8 CHECKING/PACKING/MARKING
The buyer has no obligation to the seller.

A9 ALLOCATION OF COSTS
The seller must pay:
a) all costs relating to the goods until they have been delivered in accordance with A2, other than those payable by the buyer under B9;
b) transport and all other costs resulting from A4, including the costs of loading the goods and transport-related security costs;
c) any charges for unloading at the agreed place of destination but only if those charges were for the seller´s account under the contract of carriage;
d) the costs of transit that were for the sellers account under the contract of carriage:
e) the costs of providing the usual proof to the buyer under A6 that the goods have been delivered;
f) where applicable, duties, taxes and any other costs related to export clearance under A7(a); and
g) the buyer for all costs and charges related to providing assistance in obtaining documents and information in accordance with B7(a).

B9 ALLOCATION OF COSTS
The buyer must pay:
a) all costs relating to the goods from the time they have been delivered under A2, other than those payable by the seller under A9;
b) the costs of transit, unless such costs were for the seller’s account under the contract of carriage;
c) unloading costs, unless such costs were for the seller´s account under the contract of carriage;
d) the seller for all costs and charges related to providing assistance in obtaining documents and information in accordance with A5 and A7(b);
e) where applicable, duties, taxes and any other costs related to transit or import clearance under B7(b); and
f) any additional costs incurred if it fails to give notice in accordance with B10, from the agreed date or the end of the agreed period for shipment, provided that the goods have been clearly identified as the contract goods.

A10 NOTICES
The seller must notify the buyer that the goods have been delivered in accordance with A2.
The seller must give the buyer any notice required to enable the buyer to receive the goods.

B10 NOTICES
The buyer must, whenever it is agreed that the buyer is entitled to determine the time for dispatching the goods and/or the point of receiving the goods within the named place of destination, give the seller sufficient notice.

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