Carriage Paid To (named place of delivery)
In Incoterms CPT the delivery of goods occurs when the seller makes them available to the carrier that he has hired to perform international transport, although the seller also manages and assumes the costs of international transport to the place of destination. Therefore, the point where the risk of transport is transferred (when the goods are delivered to the carrier in the seller´s country) is different from the point till the seller bears the costs of transport (named place of destination in the buyer´s country).
In the event that there are several successive carriers, such as multimodal transport or truck-air or truck-ship, the transport risk passes from the seller to the buyer when the goods are delivered to the first carrier in the chain.
In CPT, unlike Incoterms CIP, the seller has no obligation to hire insurance transport to cover the goods from the place of delivery to destination.
In this Incoterms, the seller has to complete the formalities and bear the costs of customs clearance for export, not the import clearance that corresponds to the buyer.