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Carriage and Insurance Paid CIP

Carriage and Insurance Paid CIP to named place Incoterms® 2010 - This term may be used whatever mode or modes of transport will be used.

The seller delivers goods to a carrier or another person named by the seller, unloaded from the seller's vehicle, at a named place agreed between seller and buyer, and the seller is responsible for carriage, insurance and any other costs involved in conveying the goods to the final destination.

The seller must obtain any export licence needed and enter the goods to customs for export and any transit arrangement. Unless by agreement with the buyer, insurance arranged by the seller need only be minimal: if the buyer wants more, the buyer is responsible for the cost of any extra insurance cover and must give the seller any extra information needed to obtain that cover. The place named in this Incoterm is not the final destination. (read more)