Definition: CPT, or Carriage Paid To, is a significant international trade term that delineates the responsibilities, costs, and risks associated with the delivery of goods from the seller to the buyer. As part of the Incoterms (International Commercial Terms), CPT specifies that the seller is obligated to arrange and pay for the transportation of the…
Revenue Collection: Customs duties and taxes collected during the clearance process are a significant source of government revenue. These funds can be used to finance public services, infrastructure, and other government initiatives. Security and Regulation: Customs clearance is a vital component of national security. It helps governments track the movement of goods, prevent illegal activities,…
Trade Regulation: Governments utilize this charge as a tool to control and oversee the movement of goods across international borders. They can be implemented to protect domestic industries, encourage or discourage specific imports or exports, and address trade imbalances. Economic Protection: They often serve as a safeguard for domestic industries. By making imported goods more…