CIP CARRIAGE AND INSURANCE PAID TO

It means that the seller has the same obligations under CPT but in addition he has to procure insurance against the buyer’s risk of loss of or damage to the goods during the carriage. The seller contracts for insurance and pays the insurance premium.

The Seller’s Obligations

1.- BILLED GOODS AND NECESSARY DOCUMENTS
2.- PACKING AND PACKAGING
3.- CARRYING (from factory to place of export)
4.- CUSTOMS (documents, permits, requirements, taxes)
5.- EXPORT EXPENSES (handling, storage, customs agent)
6.- FREIGHT (from place of export to place of import)
7.- INSURANCE PARTIAL
8.- IMPORT EXPENSES (handling, storage, customs agents)
9.- CUSTOMS (documents, permits, requirements, taxes)
10.- CARRIAGE AND INSURANCE (from place of import to premises)
PARTIAL