Carriage Paid
From Open Risk Manual
Revision as of 13:26, 13 February 2020 by Wiki admin (talk | contribs)
Definition
Carriage Paid. It is a shipping term included in a contract of sale (abbreviated as CPT) meaning that the vendor agrees to arrange and pay for the transportation of the products to the named destination.
Such costs are included in the price of the products. Insurance is not included. All risks of loss of or damage to the products, as well as any additional costs due to events occurring after the time the products have been delivered to the carrier, is transferred from the vendor to the buyer. At that point, the buyer must arrange for cargo insurance if so desired.
