Universal Shipping News presents Incoterms Definitions: Group C – Main Carriage Paid.
You need to know what incoterms mean? You’re in the right place. In previous videos we covered Incoterm groups E and F. This video defines all of the Incoterms in Group C.
That means we’re covering CFR, CIF, CPT, and CIP.
Terms from this group have one thing in common, they are all terms used when the seller can arrange to pay all the fees up to delivery at a foreign port.
Now, what do these incoterms mean?
1. CFR: Cost and Freight, aka C&F, aka CNF
CFR means that the seller covers all the costs of bringing goods from their origin to the port of destination, including carriage costs and clearing the goods for export, but not including the insurance.
Even though the seller takes care of the actual loading and transportation of goods up to the port of destination, the buyer pays the insurance (and therefore assumes the risk) from the moment the goods are loaded onto the vessel on. This term is used exclusively for maritime and inland waterway trade.
CIF: Cost Insurance and Freight
CIF is identical to CFR, except the seller also covers insurance. With a CIF arrangement, the seller (not the buyer) assumes the risk (and therefore is responsible for purchasing insurance) for the goods during transit from origin to the port of destination.
CIF also applies solely to maritime and inland waterway trade. However, CIF may not be appropriate where the goods are handed over to the carrier before they are loaded on the vessel – the usual container scenario.
CPT: Carriage Paid To, aka DPC
CPT indicates that the seller assumes most of the cost of transportation of the goods including export fees, carriage charges, and fees at the port of destination. Seller does not pay for insurance – that is the buyer’s obligation.
The moment that the risk of loss or damage is transferred from seller to buyer is when the goods are loaded onto the first carrier vessel, despite the seller paying the carriage charges.
CPT can be used for all modes of transportation, including container or roll-on roll-off traffic.
CIP: Carriage and Insurance Paid To
CIP is much like CPT in that the seller assumes most of the costs of transportation including export fees, carriage charges, and fees at port of destination. For CIP arrangements, however, the seller is responsible for purchasing insurance for the goods during the carriage.
While the seller is required to buy insurance for the carriage, the risk of loss or damage is transferred from seller to buyer when the goods are loaded onto the first carrier vessel.
CIP can be used for all modes of transport but is most common for intermodal (i.e. container) shipping.
That’s it for Incoterms Group C. In the next video we’ll cover Group D. For more about Incoterms and all your international shipping needs, go to UniversalCargo.com. Until next time, stay in ship shape.
A trigger is a named PL/SQL unit that is stored in the database and executed ( fired ) in response to a specified event that occurs in the database.
Overview of Triggers.
A trigger is a named program unit that is stored in the database and fired (executed) in response to a specified event. The specified event is associated with either a table, a view, a schema, or the database, and it is one of the following:
A database manipulation (DML) statement ( DELETE , INSERT , or UPDATE )
A database definition (DDL) statement ( CREATE , ALTER , or DROP )
A database operation ( SERVERERROR , LOGON , LOGOFF , STARTUP , or SHUTDOWN )
The trigger is said to be defined on the table, view, schema, or database.
A DML trigger is fired by a DML statement, a DDL trigger is fired by a DDL statement, a DELETE trigger is fired by a DELETE statement, and so on.
An INSTEAD OF trigger is a DML trigger that is defined on a view (not a table). The database fires the INSTEAD OF trigger instead of executing the triggering DML statement. For more information, see Modifying Complex Views (INSTEAD OF Triggers).
A system trigger is defined on a schema or the database. A trigger defined on a schema fires for each event associated with the owner of the schema (the current user). A trigger defined on a database fires for each event associated with all users.
A simple trigger can fire at exactly one of the following timing points :
Before the triggering statement executes.
After the triggering statement executes.
Before each row that the triggering statement affects.
After each row that the triggering statement affects.
A compound trigger can fire at more than one timing point. Compound triggers make it easier to program an approach where you want the actions you implement for the various timing points to share common data. For more information, see Compound Triggers.