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CIP Carriage and Insurance Paid To: The Protected Passage
The term CIP Carriage and Insurance Paid To is similar to CPT, but with the added requirement that the seller purchases insurance for the goods. Picture yourself on that same train, but this time, you’re also insured for the journey. This is CIP. Since its birth in 1980, CIP has been the safer alternative for multi-modal transport, mirroring CIF’s protective approach.
Obblighi del venditore:
Consegnare la merce al vettore nel luogo di spedizione indicato.
Pay for the cost of transport and insurance to the named place of destination.
Sdoganare le merci per l'esportazione.
Obblighi dell'acquirente:
Sdoganare la merce per l'importazione, pagando eventuali dazi doganali.
Sostenere tutti i rischi di perdita o danneggiamento una volta che la merce è stata consegnata al vettore.
CIP instance:
Il venditore: A Chinese producer of replacement lithium batteries for electrical tools
L'acquirente: A middle brand of electrical tool parts in Texas, USA,
Incoterm di spedizione: CIP (Carriage and Insurance Paid to) for two containers of lithium batteries
Under CIP, the seller delivers the goods to the carrier or another person nominated by the seller at an agreed place, contracts for and pays the costs of carriage necessary to bring the goods to the named place of destination, and also contracts for insurance cover against the buyer’s risk of loss of or damage to the goods during the carriage.
Ecco come si suddividono i costi:
- Costo del prodotto: Agreed price for the batteries is $30,000.
- Logistica locale: Costs for delivering goods from the factory to the port in China (seller’s responsibility), let’s say $1,500.
- Sdoganamento delle esportazioni: Costi per lo sdoganamento della merce per l'esportazione da parte della dogana cinese (responsabilità del venditore), diciamo $500.
- Spese di trasporto: Cost of shipping goods across the ocean to the destination port in Texas, USA (seller’s responsibility under CIP), let’s say $3,000.
- Assicurazione: Cost of insurance to cover the buyer’s risk of loss or damage to the goods during carriage (seller’s responsibility under CIP), let’s say $1,000.
So, the total cost to the seller (CIP price) is $30,000 + $1,500 + $500 + $3,000 + $1,000 = $36,000.
Spedizione:
- Sdoganamento delle importazioni: Duties and taxes for goods to be cleared by US customs (buyer’s responsibility), let’s say $4,000.
- Logistica locale: Costs for delivering goods from the port to the buyer’s warehouse in Texas, USA (buyer’s responsibility), let’s say $1,500.
So, the total cost to the buyer is the CIP price ($36,000) plus the costs of Import Customs Clearance ($4,000) and Local Logistics ($1,500). That is, $36,000 + $4,000 + $1,500 = $41,500.
Under CIP, the seller has the obligation to arrange and pay for the carriage of the goods to the agreed destination, and also to procure insurance against the buyer’s risk. However, the risk transfers from the seller to the buyer as soon as the goods have been handed over to the first carrier.
CPT term is closed to CIP term.
