CIP - Carriage and Insurance Paid to
What does Carriage and Insurance Paid to mean?
Carriage and Insurance Paid to means that the seller shall deliver the goods to the carrier or to any other person designated by the seller at an agreed place. The Seller shall bear the costs until delivery has taken place but does not guarantee that the goods will arrive in perfect condition at their destination. The seller must take out insurance, at least, to the place of destination for loss or damage to the goods during the transport.