Carriage and Insurance Paid To
Like CPT, plus the seller must buy cargo insurance at an all-risk level for the buyer. Any transport mode.
When to use it
CIP is CIF's equivalent for any transport mode, and the 2020 revision specifically raised its insurance requirement to all-risk cover (Institute Cargo Clauses A), a real change from CIF's minimum cover, reflecting that CIP is more often used for higher-value, multimodal cargo.
The common mistake
Assuming CIP and CIF carry the same insurance obligation because they sound similar. Since 2020 they do not: CIP requires all-risk cover by default, a materially better standard than CIF's minimum cover, so treat them as different insurance commitments, not interchangeable rules.
Risk transfers
after Loading onto main carriage, from seller to buyer.
See the full responsibility matrix
Compare all 11 Incoterms 2020 rules side by side, interactively.
Incoterms is a registered trademark of the International Chamber of Commerce (ICC). This is an educational summary, not the official rules. For the binding text, see the ICC Incoterms 2020 publication.
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