Freight and insurance payments to (CIP) The term "Carriage and Insurance Paid to" (... named place of destination), i.e. freight and insurance premiums paid to (...) specified destination). It means that the seller, in addition to the obligation to pay with freight (...) In addition to the obligation of the same terminology, the seller is also required to take out maritime insurance and pay insurance premiums for the risk of loss or damage to the goods, which should be borne by the buyer in transit. This term applies to any mode of transport.
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