Carriage and Insurance Paid to (CIP)

What is Carriage and Insurance Paid to?

Carriage and Insurance Paid to is an incoterms rule where all costs are bored by the seller until all goods are delivered to the buyer’s carrier at a named destination. As soon as the goods are delivered to the agreed destination and to the appointed carrier, the costs and risks are transferred to the buyer.

Under this rule, the seller has fulfilled his obligation when the goods are delivered to the carrier as agreed.