INCOTERMS 2010: ICC OFFICIAL RULES FOR THE INTERPRETATION OF TRADE TERMS

CIP - Carriage and Insurance Paid Тo (named place of destination)

This term is broadly similar to the CPT term, with the exception that the seller is required to obtain insurance for the goods while in transit. CIP requires the seller to insure the goods for 110% of the contract value under at least the minimum cover of the Institute Cargo Clauses of the Institute of London Underwriters (which would be Institute Cargo Clauses (C)), or any similar set of clauses. The policy should be in the same currency as the contract, and should allow the buyer, the seller, and anyone else with an insurable interest in the goods to be able to make a claim.

CIP can be used for all modes of transport, whereas the Incoterm CIF should only be used for sea-freight.

Who covers the logistics charges?

Distribution of costs according to the Incoterm negotiated in the contract. Classification according to the increased level of obligations for the seller

distribution-CPT

Incoterms 2010

  • CFR — Cost and Freight
  • CIF — Cost, Insurance and Freight
  • CIP — Carriage and Insurance Paid Тo
  • CPT — Carriage Paid To
  • DAP — Delivered at Place
  • DDP — Delivered Duty Paid
  • DAT — Delivered at Terminal
  • EXW — EX Works
  • FAS — Free Alongside Ship
  • FCA — Free Carrier
  • FOB — Free On Board
  • incoterms 2010 mini logo

Incoterms 2000

  • DDU — Delivered Duty Unpaid
  • DES — Delivered Ex Ship
  • DEQ — Delivered Ex Quay
  • DAF — Delivered At Frontier
Container Tracking

Container Tracking

The tracking system allows to determine the current position of your container on the world map and determines the port and the time spent in port of congestion.
Freight Calculator

Freight Calculator

Whether you need port to port or door to door service, choose any place of loading and final destination and get the brief description of route, transit time and an instant freight rate for any type of service.
Load Calculator

Load Calculator

Choose the equipment type (container or truck), packing type and dimensions. Get a 3D image of stowing mixed sized cargo in the most efficient manner!
Cargo Wizard

Cargo Wizard

E-commerce app for selling shipping rates and customer service This app allow users to compare and book air, ocean and trucking quotes from your company and partners of your network. All this with 24/7 support.