cip incoterms

CIP Incoterm means Carriage and Insuarance Paid to. This kind of contract is very similar to agreement made with Incoterm CPT with additonal obligation for seller who has to buy out appropriate insurance from his own pocket. Without this the contarct can be canceled without any restriction.
Additionaly the seller must pay for the package, deliver, taxes connected with export outside the country, the final deliver and the main transport. On the other hand the buyer is obliged only to care about formality with customs officer in his country.

CIP Incoterm appear in every kind of transport including multiple transport.

cip incoterms

cip incoterms

 

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