CIPAny Mode of TransportIncoterms® 2020
Carriage and Insurance Paid To
- Seller's Responsibility
- Main carriage costs and insurance to named destination. Export clearance.
- Buyer's Responsibility
- Import clearance, duties, unloading at destination.
- Risk Transfer Point
- When goods are delivered to the first carrier.
- Cost Transfer Point
- At named destination.
- Insurance Obligation
- Seller must arrange insurance with minimum cover per ICC Clause A (all-risks). Changed in 2020 — previously only required ICC Clause C (basic).
- Export Clearance
- Seller.
- Import Clearance
- Buyer.
Best For
When buyer wants assurance that goods are insured during transit and seller pays for it.
Watch Out
2020 change: CIP now requires all-risks insurance (ICC Clause A), a significant upgrade from the basic cover previously required. This makes CIP more expensive than CPT.