Articles on the topic "incoterms"

Incoterms 2020

2025-04-03 9 Mins Read

Incoterms 2020 are international rules that define the terms of delivery of goods in international trade. The abbreviation derives from the English phrase International Commercial Terms. The Incoterms 2020 rules were developed by the International Chamber of Commerce (ICC) and entered into force on 1 January 2020, replacing the previous edition – Incoterms 2010. What are Incoterms 2020 Incoterms 2020 serve as a kind of international trade language, helping the parties to international contracts clearly…

What is CPT or “Carriage Paid To”

2025-03-28 9 Mins Read

CPT is an Incoterms term under which the seller undertakes to organise and pay for the transportation of the goods to a destination agreed with the buyer. However, the risk of loss or damage to the goods transfers to the buyer at the moment the goods are handed over to the first carrier. The term frequently appears in international contracts as “carriage paid to Incoterms” or “CPT Incoterms 2020” and stands for Carriage Paid To.…

CIF and CFR (C&F): Obligations of the Parties and Transfer of Risks

2023-04-07 8 Mins Read

This article aims to provide a basic understanding of CIF and CFR terms. It also discusses some of their variants – CIFFO and C&FFO. These terms are usually used with Incoterms. Incoterms, or International Commercial Terms, are a set of standardized rules published by the International Chamber of Commerce (ICC) to facilitate international trade. These rules outline the responsibilities, costs, and risks of the parties in international trade. When parties refer to Incoterms, they incorporate…