Logistics terms · Logistics terms
What does CIP (Carriage and Insurance Paid To) mean in logistics?
Short answer
Incoterm for any mode: the seller pays carriage to the named destination and buys insurance, with risk passing when goods are handed to the first carrier. Incoterms 2020 raised the minimum cover to Institute Cargo Clauses (A).
Suits Indian exporters shipping containers or air cargo who want to offer a delivered price with insurance while handing over risk at their own inland point or ICD. Ask our desk how this applies to your consignment.
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The numbers behind this answer
- Also called
- CIP
- Category
- EXIM & customs
- Related terms
- CPT (Carriage Paid To), CIF (Cost, Insurance and Freight), FCA (Free Carrier), Incoterms 2020
Related questions
- What does CIF (Cost, Insurance and Freight) mean in logistics?
- What does CPT (Carriage Paid To) mean in logistics?
- What does CFR (Cost and Freight) mean in logistics?
- What does DAP (Delivered at Place) mean in logistics?
- What does FCA (Free Carrier) mean in logistics?
- What does Incoterms 2020 mean in logistics?
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