Carriage and insurance paid to (CIP)

{
  "id": "MLC-T-LOG-000042",
  "term": "Carriage and insurance paid to (CIP)",
  "field": "Logistics and supply chain",
  "definition": "An Incoterm where the seller delivers goods to a carrier they appoint and pays for carriage and insurance to a named destination. The seller's risk ends when the goods are handed to the first carrier, not when they reach the destination. Under the Incoterms 2020 rules for Carriage and Insurance Paid To (CIP), the seller must purchase cargo insurance compliant with Institute Cargo Clauses (A), covering all risks for 110% of the contract value.",
  "abbreviation": "CIP",
  "url": "https://mlchart.com/terminology/logistics/carriage-and-insurance-paid-to-cip/"
}