CIP – CARRIAGE AND INSURANCE PAID TO (... NAMED PLACE OF DESTINATION)

Duties of seller

• Contract for carriage and insurance
• Deliver the goods to the (fi rst) carrier
• Procure usual and “clean“ transport document and transport insurance (policy or certifi cate)
• Clear the goods for export
• Pay the transport insurance premium and the freight costs for carriage of the goods to the named place of destination

Duties of buyer

• Take delivery of the goods from the carrier
• Pay the costs which according to the contract of carriage are not borne by the seller

Documents
Documents required:

• Commercial invoice
• Transport document
• Export licence if necessary
• Insurance policy (certifi cate)

Additional documents:

• Documents needed for import or transit clearance