Home > Jargon Explained > Incoterms > CIP Carriage and Insurance Paid To
- A named place of destination must be specified
- CIP is suitable for any type of transport
- Seller appoints the carrier and pays the freight costs to the named destination
- Seller must effect insurance against loss or damage to the consignment during transit
- All additional costs and risks are the responsibility of the Buyer
Under CIP the main freight charges are paid by the seller
