Inco Terms for movement of goods is revised as Incoterms 2020. The importers and exporters are suggested to use the latest version. Click here to read the contents of Inco Terms 2020.
The information provided here is part of Guide on howtoexport and import
How to differentiate CIF with CPT?
What are the difference between CPT and CIF?
As per Inco terms of shipping, CPT means Carriage Paid to (named destination mentioned). CIF means, Cost, Insurance and Freight (up to the destination mentioned).
The term CPT was introduced in Inco Terms 2010. The CIF terms of shipping has been being used for the past decades.
The major difference between CPT and CIF is that the shipping term CPT is used in all modes of transport, where as CIF terms of shipping is used only for sea and inland water transport.
The detailed articles on CIF and CPT with simple language have been mentioned in this web blog separately. I suggest you to read these articles on CIF and CPT, so as to enable you to have a clear idea on these shipping terms.
The Buyers and Sellers are suggested to use Incoterms 2020, the latest version of delivery terms for movement of goods. Click here to read the extract of Inco Terms 2020, easily explained.
What is CPT? What are the responsibilities of buyer and seller under CPT terms? How does CIF term work? What are the obligations of buyer and seller under CIF terms.
For your immediate reference, I give below web links on CPT and CIF separately below.
Inco Terms for movement of goods is revised as Incoterms 2020. The importers and exporters are suggested to use the latest version. Click here to read the contents of Inco Terms 2020.
Inco Terms for movement of goods is revised as Incoterms 2020. The importers and exporters are suggested to use the latest version. Click here to read the contents of Inco Terms 2020.
The above articles easily explain about CIF and CPT.
Detailed articles about Inco Terms of Delivery under export and import of International business have been mentioned in separate category – INCO TERMS – in this web site. You can click here to read.
I hope, you have satisfied with the difference between CPT and CIF explained easily. Do you have different thought on difference between CIF and CPT?
The above information is a part of Online export import training guide
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