Cubic Meter CBM

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CBM stands for cubic meter. It is a standard unit for measuring cargo volume in international and domestic shipping.

CPT Incoterm

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Under CPT, the seller agrees to arrange, pay for, and deliver the goods to a specified destination.

CIP Incoterm

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Under CIP, the seller must secure “all-risk” insurance for 110% of the contract value, in compliance with the Institute Cargo Clauses (A), which provide protection during transit.

CIF Incoterm

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Under the CIF Incoterm, the seller covers all costs to deliver the goods to the buyer’s destination, including insurance.

CFR Incoterm

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The CFR Incoterm (Cost and Freight) means the seller pays the cost of transporting goods to the named port of destination.

Importer of Record (IOR)

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The Importer of Record (IOR) is the party legally responsible for ensuring that goods entering a country comply with all import laws and regulations.