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Explained INCOTERMS - "C Group". Difference of CFR / CIF / CPT / CIP in Logistics. - YouTube
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this time let's look at Incoterms c
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group which is CFR CIF CPT CIP our
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company works as a freight forwarder in
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Thailand CF Arn CIF are often used by
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the customer due to the volume of
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exports from Thailand let's take a
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closer look firstly let me explain about
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encoders encoder ohms is a terms and
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condition of cost and risk
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responsibilities for trading between
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buyers and sellers remember they are
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international trading terms which
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clarify sellers and buyers cost and risk
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responsibilities from location to
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location the following illustration
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explains CF arm CIF cost and risk
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responsibilities sellers are responsible
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for the cost until the cargo arrives at
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the importing port in terms of risk
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responsibilities sellers are responsible
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until the cargo is loaded onto a vessel
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at the exporting port once cargo is
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loaded onto a vessel it becomes the
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buyers responsibility
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remember on CFR and CIF the location of
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changing the cost and risk
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responsibilities are not the same now
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let's take a look at the term CF arm CIF
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CFR is a short form of cost and freight
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therefore sometimes it is written F C
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and F but the correct short form the CFR
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CIF is a short form of cost insurance
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and freight the difference between CFR
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and CIF is insurance i stands for
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insurance which makes it easy to
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remember with CIF it is the
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responsibility of the exporter to
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arrange insurance CFR does not include
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any insurance
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therefore the importer will either waive
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insurance or they will arrange insurance
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from an exporters point of view if they
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are exporting high-volume cargos and
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have a business with a freight forwarder
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who has strength and experience in
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exporting to certain countries they have
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additional advantages when using CR F or
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CIF under these conditions the exporter
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is responsible for cost until the cargo
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arrives at the importing
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the more volume exporters have the
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cheaper the freight will become from an
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importers point of view if you are
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importing cargo from the country for the
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first time or if the freight forwarder
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is not familiar with the importing
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countries practices you may wish to
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choose CF or CIF trading conditions
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where the exporters take increased
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responsibility now let's take a look
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from an experienced freight forwarders
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point of view for example we are Thai
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freight forwarder and export high
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volumes of mangoes durians and
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industrial products on a monthly basis
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as shown in our company introduction
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video we deal with high volumes of cargo
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and also benefit from good working
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relationships with shipping lines they
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offer us competitive ocean freight this
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enables us to offer better deals to
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Japanese companies in Thailand who
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export to Asia Southeast Asia the Middle
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East and Europe however we can't only
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offer a general rate to Africa and South
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America due to less subway trading
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requires sellers who export and buyers
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who import to establish an agreement
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arrangements for transportation cost and
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smooth transit are important part of the
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agreement when establishing conditions
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it is important to consider freight
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forwarders experience and knowledge of
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logistics let's return to encoders under
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Group C in addition to cfrm CIF there
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are also CPT and CIP terms the location
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of the risk responsibility changes once
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the cargo is on the deck of vessel when
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using CFR n CIF alternatively the
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location of risk responsibilities
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changes at exporting CY and CFS when
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using CPT and CIP this means CPT and CIP
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are the conditions used when exporting
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using container vessels in terms of cost
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responsibilities under Group C exporters
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take responsibility up until the vessel
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arrives at the importing port the
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following explains the difference
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between CPT and CIP cpt is short form of
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carriage paid to CIP a short form of
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carriage and insurance
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- as in the case of cfrm CIF imci P
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stands for insurance which in turn means
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CPT does not included insurance in this
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instance all you need to remember is
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that I will always stand for insurance
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finally let's check your understanding
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this time we explain the Incoterms C
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group also we explain the advantages of
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these terms on cost and risk
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responsibilities of importance in
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exporters when considering cargo volume
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C at R and CIF are the business terms
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that are often used on trading practices
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it is important to understand the
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difference in this channel I explained
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about the technical term and job
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description in logistics if you are
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interested in logistics work or if you
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already work in the logistics industry I
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believe that this channel will be a good
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support for your job if this time video
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get a good support for your
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understanding
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please subscribe press good or comment
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anything well see you next time
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