CPT/CIP – Delivery, Risk and interaction with Letter of Credit

CPT CIP delivery and interaction with Letter of credit - shipping and freight resource

CPT stands for “Carriage Paid To” and should be shown as CPT (named place of destination) Incoterms® 2020. CIP stands for “Carriage and Insurance Paid To” and should be shown as CIP (named place of destination) Incoterms® 2020.

Under CPT and CIP, the seller delivers the goods and transfers the risk to the buyer when

– the goods are handed over to the carrier contracted by the seller, or
– by procuring the goods so delivered.… Read More »

Understanding Incoterms® 2020 Rules

Incoterms 2020

One of the experts invited by the International Chamber of Commerce to be a member of their Incoterms® Drafting Group to draft the new Incoterms® 2020 is Bob Ronai, the first Australian and only the second non-lawyer to be invited by the ICC to be a member.. Bob addresses common questions about Incoterms® rules and also clears many misconceptions about the usage of the Incoterms® rules on his hugely popular Incoterms® group on LinkedIn..

Bob has compiled a series of short explanations of various matters critical to understanding and using the Incoterms® 2020 rules in the real world of trade based on various questions he has received about the correct application of the rules.. Some of these questions and explanations are being reproduced on this platform with kind permission from Bob Ronai..… Read More »