what is carriage and insurance paid to cip 
carriage and insurance paid to cip is a global trade term under which a seller pays freight and insurance costs to deliver goods from its factory to a buyer appointed party at an agreed upon location the risk of damage or loss to the goods being transported transfers from the seller to the buyer as soon as the goods are delivered to the buyer s carrier or appointee cip is comparable to but different from cost insurance and freight cif an agreement that is used in maritime trade and commodity trading under cip the seller is obligated to insure goods in transit for 110 of the contract value if the buyer desires additional insurance they must arrange for it on their own 1cip and cif are two incoterms a set of globally accepted commercial trade terms published by the international chamber of commerce icc 2