Register now or log in to join your professional community.
Group1. Incoterms® that apply to any mode of transport are:
Group2. Incoterms® that apply to sea and inland waterway transport only:
1. CFR: Cost and Freight, aka C&F, aka CNF
Definition: This acronym means that the seller covers all the costs of bringing goods from their origin to the port of destination, including carriage costs and clearing the goods for export except for the insurance.
Note: Even though the seller takes care of the actual loading and transportation of goods up to the port of destination, the buyer pays the insurance (and therefore assumes the risk) from the moment the goods are loaded onto the vessel at the port of origin throughout their transit to the port of destination and beyond. This term is used exclusively for maritime and inland waterway trade.
2. CIF: Cost Insurance and Freight
Definition: This term is identical to the one preceding it – with exception for the insurance portion. With a CIF arrangement, the seller (not the buyer) assumes the risk (and therefore is responsible for purchasing insurance) for the goods during transit from origin to the port of destination.
Note: This term too applies solely to maritime and inland waterway trade. However, CIF may not be appropriate where the goods are handed over to the carrier before they are loaded on the vessel - the usual container scenario.
3. CPT: Carriage Paid To, aka DPC
Definition: This term indicates that the seller assumes most of the cost of transportation of the goods including export fees, carriage charges, and fees at the port of destination. Seller does not pay for insurance - that is the buyer’s obligation.
Note: The moment that the risk of loss or damage is transferred from seller to buyer is when the goods are loaded onto the first carrier vessel, despite the seller paying the carriage charges. CPT can be used for all modes of transportation, including container or roll-on roll-off traffic.
Well answered add by all <<<<<<<<<<<<<Regards
FCR: first call resolution is properly addressing the customer's need the first time they call, thereby eliminating the need for the customer to follow up with a second call.
Cost, Insurance and Freight - CIF
A trade term requiring the seller to arrange for the carriage of goods by sea to a port of destination, and provide the buyer with the documents necessary to obtain the goods from the carrier
Carriage Paid To (CPT)
A commercial term denoting that the seller delivers the goods to a carrier or to another person nominated by the seller, at a place mutually agreed upon by the buyer and seller, and that the seller pays the freight charges to transport the goods to the specified destination. “Carriage Paid To” (CPT) means that the risk of damage or loss to the goods being transported is transferred from the seller to the buyer as soon as the goods have been delivered to the carrier. The seller is responsible only for arranging freight to the destination, and not for insuring the goods shipment when it is being transported.
CFR-Cost and Freight
"Cost and Freight" means that the seller must pay the costs and freight necessary to bring the goods to the named port of destination but the risk of loss of or damage to the goods, as well as any additional costs due to events occurring after the time the goods have been delivered on board the vessel is transferred from the seller to the buyer when the goods pass the ship's rail in the port of shipment.
CIF-Cost, Insurance and Freight
"Cost, Insurance and Freight" means that the seller has the same obligations as under CFR but with the addition that he has to procure marine insurance against the buyer's risk of loss of or damage to the goods during the carriage. The seller contracts for insurance and pays the insurance premium.
CPT-Carriage Paid to
"Carriage paid to..." means that the seller pays the freight for the carriage of the goods to the named destination. The risk of loss of or damage to the goods, as well as any additional costs due to events occurring after the time the goods have been delivered to the carrier is transferred from the seller to the buyer when the goods have been delivered into the custody of the carrier.
For the INCOTERMS2010 Rules I Request you to check the picture within this link :
http://www.comevendereallestero.it/news/tabella-degli-incoterms/
FCR - Forwarder's Cargo receipt
CIF - Cost, insurance and freight
CPT - carriage paid to
CFR-Cost and Freight
"Cost and Freight" means that the seller must pay the costs and freight necessary to bring the goods to the named port of destination but the risk of loss of or damage to the goods
Cost, Insurance and Freight - CIF
A trade term requiring the seller to arrange for the carriage of goods by sea to a port of destination, and provide the buyer with the document snecessary to obtain the goods from the carrier
CPT-Carriage Paid to
"Carriage paid to..." means that the seller pays the freight for the carriage of the goods to the named destination. The risk of loss of or damage to the goods
