CARM: What all importers need to know about CARM

Terminology

C

CPT, Carriage Paid To

Under CPT Incoterms, the seller pays to bring the goods to the named place of destination, but the risk of loss or damage and any costs relating to the goods while in transit pass to the buyer once the goods are handed over to the carrier. (For a complete list of Incoterm definitions including a chart of buyer and seller responsibilities, see Universal’s Incoterms 2010.)

Quick Tip #36
Report Lost and Damaged Cargo to your Forwarder, Carrier and Insurer as soon as possible

Any loss or damage to cargo should be reported immediately to the company or the company’s nearest settling agent.

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