Nautical Term: CPT
Definition of CPT
The maritime term Carriage Paid To (CPT) refers to a specific type of Incoterms (International Commercial Terms). When using CPT, the seller is responsible for delivering the goods to the carrier nominated by the buyer. For instance, The supplier agrees to deliver the goods Carriage Paid To the carrier nominated by the buyer. (For example, The supplier agrees to deliver the goods Carriage Paid To the carrier nominated by the buyer. [
The maritime term Carriage Paid To (CPT) under the Incoterms refers to a contractual agreement where the seller is responsible for delivering the goods to the carrier nominated by the buyer. The buyer pays for the transportation costs from the point of loading to the point of discharge.
For instance, let’s consider a situation where a US-based company named ABC Importers is importing goods worth $50,000 from a Chinese supplier named XYZ Suppliers. ABC Importers has agreed to pay for the CPT terms.
Under the CPT terms, the responsibility for delivering the goods to the carrier nominated by ABC Importers lies with XYZ Suppliers. X
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