CIP

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INCOTERMS 2020 | CIP – CARRIAGE AND INSURANCE PAID TO

CIP, short for “Carriage and Insurance Paid to”, means the exporter is obligated to load the goods to the first carrier and pay the insurance and freight to the agreed destination in the importer’s country.

It’s noteworthy that the exporter is not responsible for the risks of the goods’ transportation; it just pays the insurance and freight. All the risks transfer to the importer upon the goods’ loading at the exporter’s premises or any other agreed place. CIP is used in all modes of Transport.

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