CIP (Carriage and Insurance Paid To)
CIP (Carriage and Insurance Paid To) — an Incoterms rule similar to CPT, but the seller additionally pays for insurance of the cargo to the destination. Risk passes on handover to the first carrier.
Under CIP the seller must arrange insurance with broad coverage. The cost of carriage and insurance is included in the price and taken into account in the customs value.
We will help correctly calculate the payments under CIP terms.
Related terms
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