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8) CIP : carriage ,insurance paid to...named place of destination

  • Utilisation: For all mode of transportation including multimodal transportation
  • Type of sale: Sale at departure

According to the mode of transportation by sea

Transport par mer
DOCUMENTS
RISKS
EXPENSES
Assumed by the seller

According to the mode of transportation by air

Transport par air
DOCUMENTS
RISKS
EXPENSES
Assumed by the seller

According to the mode of transportation by rail

Transport par rail
DOCUMENTS
RISKS
EXPENSES
Assumed by the seller

According to the mode of transportation by road

Transport par route
DOCUMENTS
RISKS
EXPENSES
Assumed by the seller

Main obligations of the parts

  • The SELLER have:
    • To take in charge the clearance export if it is necessary.
    • to deliver commodity to the conveyor or, in case of successive conveyors, at first among them.
    • To conclude the agreement (s) of transportation to convey the goods to the agreed point and to pay for freight.
    • to subscribe an insurance policy for the purchaser's account in order to cover the hazard transportation until the point of agreed destination. The coverage of this insurance is minimal. The assured amount corresponds at the cost of fixed purchase in contract increased to the minimum of 10%.
  • The BUYER have:
    • To receive the goods to the agreed destination port.
    • To bear the hazards from the moment where the goods have been handed to the conveyor or, in case of successive conveyors, at first among them.
    • to conduct the clearance import

Other important points

  • Documents demanded of the seller: commercial invoice or equivalent computer data; carriage document (bill of lading or waybill... ).
  • Delicate point: the delivery to the conveyor is not clearly definite. The local customs define the conditions in which the salesperson fills this bond.
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