cbc4ed1a___Definition
[Incoterm] CIP [Definition] 
Carriage and Insurance Paid To…named place of destination «Carriage and Insurance Paid to...» means that the seller delivers the goods to the carrier nominated by him. The seller must in addition pay the cost of carriage necessary to bring the goods to the named destination and bear all risks of loss of or damage to the goods until such time as they have been delivered. In CIP the seller also has to procure insurance against the buyer's risk of loss of or damage to the goods during the carriage. USAGE: Any mode of transport, including multimodal transport
Definition