CPT stands for Carriage Paid to… (named port of destination), which means freight paid to (… designated destination). It means that the seller delivers the goods to the carrier designated by it and must also pay the freight for transporting the goods to the destination. The buyer bears all risks and other costs after delivery.
CPT terms apply to all modes of transport, including multimodal transport.
Basic obligations of the buyer and seller
(1) Seller’s obligations
① Sign a transport contract for the transport of goods to the designated destination and pay the freight.
② Deliver the goods to the carrier at the time and place specified in the contract and notify the buyer in a timely manner. ③ Bear all risks and other costs before the goods are delivered to the carrier.
④ Obtain official export certificates at its own risk and expense, and complete all customs formalities required for the export of goods and pay relevant taxes and fees.
⑤ Submit a commercial invoice, delivery note, or an electronic record or procedure certificate with equivalent effect. (2) Buyer’s Obligations
①Accept the relevant documents provided by the seller, receive the goods, and pay the purchase price in accordance with the contract.
②Assume all risks after the goods are handed over to the carrier at the agreed place, and handle insurance procedures at his own expense.
③At his own risk and expense, obtain the import license or other official documents required for the import of the goods, and handle the import procedures.