Carriage and Insurance Paid to means that the seller delivers the goods to the carrier or another person nominated by the seller at an agreed place (if any such place is agreed between parties) and that the seller must contract for and pay the costs of carriage necessary to bring the goods to the named place of destination.
Carriage and Insurance Paid to means that the seller delivers the goods to the carrier or another person nominated by the seller at an agreed place (if any such place is agreed between parties) and that the seller must contract for and pay the costs of carriage necessary to bring the goods to the named place of destination. The seller also contracts for insurance cover against the buyer’s risk of loss of or damage to the goods during the carriage. The buyer should note that under CIP the seller is required to obtain insurance only on minimum cover.
Carriage and Insurance Paid to means that the seller delivers the goods to the carrier nominated by him, but the seller must in addition pay the cost of carriage necessary to bring the goods to the named destination. This means that the buyer bears all risks and any additional costs occurring after the goods have been so delivered. However, in CIP the seller also has to procure insurance against the buyer’s risk of loss of or damage to the goods during the carriage.
Examples of Carriage and Insurance Paid to in a sentence
Acronym for Carriage and Insurance Paid to the agreed duty station.
The term CIP (Carriage and Insurance Paid to), and other similar terms shall be governed by the rules prescribed in the current edition of Incoterms, published by The International Chamber of Commerce, as specified in the BDS.
The Bids shall preferably be requested on the basis of CIP (Carriage and Insurance Paid to a named place of destination) for Goods.
The bids shall preferably be requested on the basis of CIP (Carriage and Insurance Paid to a named place of destination) for goods manufactured abroad and on the basis of EXW prices (ex factory or off-the-shelf) for goods manufactured or assembled in the Beneficiary’s country, to which the inland transport and insurance costs to the final destination are added.
Carriage and Insurance Paid, to the destination listed in 6.4.2 Incoterms 2000 for shipments from a commercial contractor.
More Definitions of Carriage and Insurance Paid to
Carriage and Insurance Paid to. , which means the seller delivers the goods to the carrier nominated by him but the seller must in addition pay the cost of carriage necessary to bring the goods to the named destination;
Carriage and Insurance Paid to means that the seller has the same obligations as
Carriage and Insurance Paid to means that the seller delivers the goods to the carrier, or another person nominated by the seller at an agreed place (if any such place is agreed between parties) and that the seller must contract for and pay the costs of carriage necessary to bring the goods to the named place of destination. ‘The seller also contracts for insurance cover against the buyer’s risk of loss of or damage to the goods during the carriage. The buyer should note that under CIP the seller is required to obtain insurance only on minimum cover. Should the buyer wish to have more insurance protection, it will need either to agree as much expressly with the seller or to make its own extra insurance arrangements.” DAT Delivered at Terminal
Carriage and Insurance Paid to means that the seller has the same obligations as under CPT but with the addition that the seller has to procure cargo 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 in- surance premium. The buyer should note that under CIP term the seller is only required to obtain insurance on minimum coverage. It is advisable that buyer includes in the solicitation document and in the contract, a provision for additional coverage at seller’s expense, (i.e. Institute Cargo Clauses A). The CIP term requires the seller to clear the goods for export. This term may be used for any mode of transport including multimodal transport.
Carriage and Insurance Paid to means that the seller has the same obligation as under CPT but with the addition that the seller has to procure cargo 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 on the buyer’s behalf, and includes this in the price of the goods in the contract of sale.
Carriage and Insurance Paid to means that the seller delivers the goods – and transfers risk – to the buyer by handing them over to the carrier contracted by the seller or by procuring the goods so delivered. The seller may do so by giving the carrier physical possession of the goods in the manner and at the place appropriate to the means of transport used. Once the goods have been delivered to the buyer in this way, the seller does not guarantee that the goods will reach the place of destination in sound condition, in the stated quantity or indeed at all. This is because risk transfers from seller to buyer when the goods are delivered to the buyer by handing them over to the carrier; the seller must nonetheless contract for the carriage of the goods from delivery to the agreed destination.
Carriage and Insurance Paid to means that Unisense delivers the goods to our carrier and pays the cost of carriage necessary to bring the goods to the named destination. This means that the customer bears all risks and any additional costs occurring after the goods have been so delivered. However, in CIP we also have to procure insurance against the