The CIP Incoterm or “Carriage and Insurance Paid to” states that the seller is responsible for bringing the goods to destination and the payment of the cost of international freight as well as insurance costs. Unlike other Incoterms, the transfer of risk is made when the goods have are loaded on board the means of transport.
The CIP Incoterm is versatile as it can be used irrespective of the mode of transport.
Delivery of goods and documents required
Packaging and wrapping
Inland transport in the country of origin
Customs at origin
Payment of the goods
Customs on arrival
Inland transport at the destination country
Payment of fees