Carriage and Insurance Paid (…named place of destination)
Carriage and insurance to be paid by seller. Risk transfers from seller to buyer once goods have been delivered to the carrier. The seller contracts for insurance and pays the insurance premium. CIP is only required to give minimum insurance coverage.
While the seller is responsible for insurance coverage during the main voyage, the buyer may have additional "insurable interest" and prudence may dictate purchase of additional coverage.
Modes of Transport Covered
All modes of transport including multimodal.
|A. Seller's Responsibilities||B. Buyer's Responsibilities|
Provide the goods, commercial invoice or electronic message, and other documentation as required by the sales contract.
Pay for the goods as provided in the sales contract.
|A.2. Licenses and Customs Formalities
Obtain at own risk and cost any export licenses and authorizations and carry out all export formalities and procedures.
|B.2. Licenses and Customs Formalities
Obtain and pay costs of all import licenses and authorizations and carry out all import formalities.
|A.3. Carriage and Insurance
Contract for and pay all costs of carriage and insurance to the named port of destination. The insurance policy or document must allow the buyer to make a claim directly from the insurer. Deliver the insurance document to the buyer.
|B.3. Carriage and Insurance
No obligation to the seller for either carriage or insurance.
Deliver the goods to the carrier (or first of multiple carriers) for carriage to the named port of destination within the time period stipulated in the sales contract
|B.4. Taking Delivery
Take delivery of the goods from the carrier at the port of destination as provided in the sales contract.
|A.5. Risk Transfer
Assume all risks of loss or damage to the goods until they have been delivered to the carrier or first of multiple carriers.
|B.5. Risk Transfer
Assume all risk of loss or damage from the time the goods have been delivered to the carrier by the seller.
Pay all costs until the goods have been delivered to the carrier, plus costs of loading, carriage, insurance to the named port of destination plus normal unloading. Also to pay all costs relating to export including duties, taxes and customs formalities. Pay the costs of unloading, customs clearance, duties, and other costs if such costs are included in the cost of carriage.
Pay all additional costs (not covered in the seller's contract of carriage in Seller's #6) for the goods once they have been delivered to the carrier, including unloading, lighterage and wharfage at the port of destination. Pay all costs relating to import formalities including duties, taxes and other charges including transshipment.
|A.7. Notice to the Buyer
Provide sufficient notice to the buyer that the goods have been delivered to the carrier.
|B.7. Notice to Seller
If, according to the sales contract, the buyer is able to specify a time for shipping and/or specify a port of destination, to give the seller sufficient notice.
|A.8. Proof of Delivery, Transport Documents
Provide the buyer with a transport document.
|B.8. Proof of Delivery
Accept the seller's transport document so long as it is in conformity with the sales contract.
|A.9. Checking, Packing, Marking
Pay all costs associated with checking the quality and quantity of the goods to be in conformity with the sales contract. Provide appropriate packing (unless the goods are traditionally delivered unpackaged) as required for the transport of the goods, to the extent that the buyer has made transport circumstances known to the seller prior to the execution of the sales contract. Provide marking appropriate to the packaging.
Pay for the costs of pre-shipment inspection(s) except inspections required by the country of export.
Provide the buyer at the buyer's request, risk and expense any and all assistance in securing documentation originating in the country of export or of origin required for import and for transshipment (as necessary). Provide the buyer with information necessary to procure additional insurance.
Pay all costs associated with securing documentation from the country of origin or export required for import. Reimburse seller for costs in providing such documentation or assistance.