CIP - CARRIAGE AND
INSURANCE PAID (incoterms 2000)
What is CIP?
CIP is a delivery
term Carriage and Insurance Paid To named place of
destination, specified in INCOTERMS 2000.
CIP means that the seller
delivers goods to the nominated carrier.
The seller pays costs until
the goods delivered to the nominated carrier.
The goods delivered with CIP
are cleared for export by seller.
This also means that the
buyer should bear all costs and risks of loss or damage
from the point of delivery.
It is recommended to
verify specific details in Incoterms 2000.
Import, Export, Incoterms
The seller's obligations
in CIP term:
Provision of goods
Licenses and export
formalities
Delivery at the named carrier
Transfer of risks to the
buyer
Details are specified
in Incoterms 2000
The buyer's obligations
in CIP term:
Payment of the price
Licenses and import
formalities
Contracts of carriage to the
named place
The buyer should bear all
risks from the time the goods are delivered according to CIP
term
Details are specified
in Incoterms 2000
Additional information about divisions of
costs, notice to the buyer, notice to the seller, proof of
delivery, transport documents and other
obligations available in INCOTERMS 2000 of
ICC.
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Subjects keywords:
CIP, CARRIAGE AND
INSURANCE PAID TO: CIP definition, seller's obligations in
CIP term, buyer's obligations in CIP term, INCOTERMS. All
information about CIP.
