CIP, or Carriage and Insurance Paid To, is an Incoterm for any mode where the seller pays the carriage and the insurance to a named destination, while risk passes to the buyer once the goods reach the first carrier. It is the same split as CPT, with insurance added, which makes it the multimodal counterpart to CIF. Under the current rules the seller must buy a high level of cargo cover.
CIP suits buyers who want the seller to arrange both transport and insurance on a containerized or multimodal move. It mirrors CPT with cover included. Texas International Freight handles CIP shipments and explains the shipping terms so the cover and the handover are clear.
