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When goods are bought or sold “Carriage and Insurance Paid” (CIP) it means that the Seller delivers the goods to a destination previously agreed to by the seller and the buyer.

When you import goods into the European Union you have to bring them into Free Circulation. Free Circulation implies non-Union goods which have been cleared by European customs, allowing you to sell or utilise these goods within countries in the European Union.

You want to expand your business and want to export your products to the Netherlands and sell them to Dutch businesses. This means you need to import your products into the Netherlands.

The International Chamber of Commerce has launched the latest version of the International Commercial Terms (Incoterms): Incoterms 2020.

When goods are bought or sold "carriage paid" (CPT), this means that the seller delivers the goods to a destination agreed in advance between the seller and the buyer. It can also mean delivery to the buyer's preferred carrier.

Whether you are importing or exporting goods, and whether you are a buyer or a seller, the chances are high that you will encounter Incoterms.