Like CPT, but the seller also insures the cargo in favour of the buyer — for at least 110% of its value, on Institute Cargo Clauses (A). CIP is already selected in the generator
Parties, documents and specifics for every deal scheme
The CIP term is passed into the form from this page
Import or export of goods. Parties, goods with HS codes and prices go into the same form; the Russian party's details are filled in from its INN (taxpayer number).
CIP is already selected. Enter the place of destination: the seller pays for carriage and insurance up to it. The delivery terms in the specification will be built for CIP.
You see the whole document before paying: the English and Russian columns, the specification, the delivery term. After payment you get the DOCX.
An Incoterms rule applies to the delivery of goods — import or export
The supplier pays for delivery and insurance to you; the risk in transit is yours.
You pay for carriage and insure the cargo in favour of the buyer.
Risk passes when the goods are handed over to the first carrier at the place of shipment
A delivery term without an exact place and without the conditions around it does not work well
Meaning, risk, costs, title
The preview of the whole document is free: you see both columns in full and pay only if it suits you. No subscription, no registration.
CIP fits when the seller arranges carriage by any mode of transport itself and insures the cargo, and the buyer wants to receive a policy with wide cover without concluding its own insurance contract.
The delivery term is set out in Annex No. 1 (Specification) in English and Russian. The English column for this term:
CIP [place]
Delivery and transfer of risk: The Seller has fulfilled its delivery obligation when it hands the Goods over to the carrier it has contracted with (the first carrier). The risk of loss of or damage to the Goods and the title to the Goods pass from the Seller to the Buyer at that moment. The Seller paying for carriage and insurance to [place] does not change the moment when risk passes: the arrival of the Goods at the destination is not delivery.
Costs: The Seller pays for carriage and insurance to the named place of destination ([place]) and bears export formalities. The Buyer bears the costs from delivery onwards, except the carriage and insurance paid by the Seller, as well as unloading at the destination unless it is included in the contract of carriage.
Customs clearance: export clearance is the Seller's obligation; import clearance, duties and taxes are the Buyer's.
Insurance: The Seller insures the Goods at its own cost in favour of the Buyer for at least 110% of their value on the terms of Institute Cargo Clauses (A) (or similar clauses) for the whole carriage from the place of delivery to the named place of destination ([place]).
Under CIP the seller pays for carriage and includes it in the price of the goods. If the place of destination is inside Russia, part of these costs falls on the leg across the territory of the Eurasian Economic Union. Under paragraph 2 of Article 40 of the EAEU Customs Code, such costs are not included in the customs value — provided that they are separated from the price, declared by the declarant and supported by documents. It is therefore better to show the cost of delivery beyond the border as a separate amount in the supplier's documents.
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