TransportationCIP
CIP (Carriage and Insurance Paid To)
Incoterm where the seller pays transport and insurance to destination, but risk transfers upon delivery to the first carrier.
Incoterm where the seller pays transport and insurance to destination, but risk transfers upon delivery to the first carrier.
CIP is similar to CPT but includes the seller's obligation to contract insurance with broad coverage (Incoterms 2020 requires maximum ICC-A coverage). Risk transfers to buyer upon delivery to first carrier.
Incoterms
International rules published by the International Chamber of Commerce (ICC) defining buyer and seller responsibilities for transport and delivery of goods.
LogisticsCIF (Cost, Insurance and Freight)
An Incoterm indicating that the seller assumes the costs of ocean freight and insurance to the agreed destination port, although the risk of loss or damage transfers to the buyer upon shipment.
TransportationCPT (Carriage Paid To)
Incoterm where the seller pays transport to the agreed destination but risk transfers upon delivery to the first carrier.
LogisticsInternational Cargo Insurance
A contract protecting goods owners against financial losses from damage, theft, or total loss during international transportation.