Carriage and Insurance Paid to
- Carriage and Insurance Paid to
Carriage and Insurance Paid to (CIP) is an Incoterm, usable with any mode of transport. It is the correct term to be used in place of CIF for shipments in containers or by air. It is defined in International Chamber of Commerce's publication 560 "Incoterms 2000."
The passing of risk occurs when the goods have been delivered into the custody of the first carrier. This means that the buyer bears all risk and any additional costs occurring after the goods have been so delivered. It is the same as CPT except that the seller also pays for the insurance to cover the buyer's risk, and passes a negotiable form of that insurance (usually an endorsed Certificate) to the buyer so in the event of loss of, or damage to, the goods the buyer can claim under the seller's insurance. Seller is required to obtain insurance only on minimum cover, additional coverage is responsibility of buyer or must be agreed between seller and buyer. Under CIP seller is also required to clear the goods for export.
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carriage and insurance paid — ➔ Incoterm * * * carriage and insurance paid UK US adjective, adverb (also freight and insurance paid, ABBREVIATION CIP) ► COMMERCE, TRANSPORT, INSURANCE used to show that the company or person sending goods has … Financial and business terms
Carriage And Insurance Paid To — CIP est un Incoterm qui signifie Carriage and Insurance Paid to Le transfert des risques a lieu quand les marchandises ont été remises au premier transporteur. C est le même Incoterm que le CPT, sauf que le vendeur paye en plus l assurance.… … Wikipédia en Français
Carriage and insurance paid to — CIP est un Incoterm qui signifie Carriage and Insurance Paid to Le transfert des risques a lieu quand les marchandises ont été remises au premier transporteur. C est le même Incoterm que le CPT, sauf que le vendeur paye en plus l assurance.… … Wikipédia en Français
Carriage and Insurance Paid to — CIP est un Incoterm qui signifie Carriage and Insurance Paid to Le transfert des risques a lieu quand les marchandises ont été remises au premier transporteur. C est le même Incoterm que le CPT, sauf que le vendeur paye en plus l assurance.… … Wikipédia en Français
Carriage and Insurance Paid to — Области действия терминов Инкотермс. CIP или Carriage and Insurance Paid to (с англ. фрахт/перевозка и страхование оплачены до) междунар … Википедия
Carriage and Insurance Paid to — noun Meaning the seller pays for the freight to the named destination and the insurance during the transportation … Wiktionary
Carriage and Insurance Paid To — ( CIP) Seller is responsible for the payment of freight to carry goods to a named overseas destination. The seller is also responsible for providing cargo insurance at minimum coverage against the buyer s risk of loss or damage to the goods… … Financial and business terms
Carriage and Insurance Paid to — Named Place of Destination, ⇡ CIP … Lexikon der Economics
freight and insurance paid — ˌfreight and inˌsurance ˈpaid noun [uncountable] another name for carriage and insurance paid * * * freight and insurance paid UK US adverb TRANSPORT, INSURANCE ► CARRIAGE AND INSURANCE PAID(Cf. ↑carriage and insurance paid) … Financial and business terms
Carriage Paid To — (CPT) is an Incoterm. It can be used for all modes of transport including multimodal transport. The seller pays for the freight to the named point of destination. The buyer pays for the insurance. The passing of risk occurs when the goods have… … Wikipedia
