Incoterms 2020 Risk Transfer. Carriage paid to cpt incoterms 2020 rules updated carriage paid to or cpt goes into a little more detail than fca specifying that the seller bears the costs for transporting the goods to the nominated place that the buyer requests. Incoterms 2020 dictates that the cif incoterm or cost insurance and freight is exclusive to maritime shipping.
This allows for the buyers own means of transport under the fca rule. Determines when the seller transfers the goods and thus the responsibility transfer of risk to the buyer. Incoterms 2020 do not regulate the transfer of ownership of the merchandise nor the sale price the form of payment the general conditions of sale etc.
The incoterms 2020 rules.
Cif risk transfer takes place when the merchandise is loaded onto the shipping vessel and is recommended for situations in which. Incoterms 2020 overview of risk and cost transfer download the pdf. Under cif the seller is responsible for the cost and freight of bringing the goods to the port of destination specified by the buyer. The incoterms2020 update was released on september 10 2019.