CPT Incoterms – Carriage Paid To (named place of destination)
The seller pays for carriage. The risk passes to the buyer when the goods are handed to the first carrier at the place of Importation. The seller also has to pay for cargo insurance, in the name of the buyer, when goods are in transit.
BREAKING DOWN ‘Carriage Paid To (CPT)’ … In aCPT transaction 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