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Eintrag vom: 13.02.2013.

When shipping under CIP the seller assumes the risk until goods are delivered to the first carrier at a named location. When using CIP and CIF Incoterms the seller is responsible for purchasing insurance and paying freight costs.

 

CIP first appeared in Incoterms® 1980 as standing for Freight Carriage and Insurance Paid To but was shortened in the 1990 rules. The only difference between CPT and CIP is that the CIP seller must contract for insurance against the buyer?s risk.

 

CIP stands for ? Carriage and Insurance Paid To ? where the seller pays for the freight as well as cargo insurance to the named destination. It includes all costs up to that point including loading on a vessel at a port of shipment in the country of origin.

 

CIP is a globally accepted Incoterm devised by the International Chamber of Commerce which define common contract terms covering the cost of shipping items in a business sale.

 

What Does CIP Mean in Shipping? CIP (Carriage And Insurance Paid To) means that the seller is responsible for delivery delivery costs and insurance costs of the goods until they are transferred to the first carrier tasked with transporting the goods.