Buyer’s and Seller’s responsibility to bear costs under CIP

The INCOTERM CIP (Carriage and Insurance Paid to)  

 

Carriage and Insurance Paid to, Allocation of expenses to buyer and seller.

 

Q) Under the INCOTERM CIP, who should bear all cost related with Export customs declaration?

 

Answer

 The Seller has to bear all cost related with Export customs declaration if contract is under the INCOTERM CIP.

 

Q) Who has to pay the Carriage to port of export under CIP terms?

 

Answer

The Seller is responsible for paying carriage to port of export under CIP terms.

 

Q) Who is responsible for all the cost for unloading of truck in port of export, in CIP terms?

 

Answer

All the cost for unloading of truck in port of export should be given by the Seller under the INCOTERM CIP.

 

Q) Who is obliged to bear all cost for loading the cargo on vessel/airplane in port of export under CIP terms?

 

Answer

The Seller should pay all cost for loading the cargo on vessel/airplane in port of export under CIP terms.

 

Q) In INCOTERM CIP, who should give money to Carriage (sea/air) to port of import?

 

Answer

In INCOTERM CIP, the Seller should give money to Carriage (sea/air) to port of import.

 

Q) Who should arrange Insurance for the shipment under CIP term?

 

Answer

The Seller has to arrange Insurance for the shipment under CIP term.

 

Q) According to the INCOTERM CIP, all the expenses for unloading the cargo in port of import are whose responsibility?

 

Answer

According to the INCOTERM CIP, the expenses for unloading the cargo in port of import is met as per mutually agreed terms between buyer and seller

 

Q) Under CIP INCOTERM, who should pay for Loading on truck in port of import?

 

Answer

If the contract is under CIP INCOTERM, loading on truck in port of import has to be paid as per mutually agreed terms between buyer and seller.

 

Q) Who is responsible for arranging Carriage to place of destination under CIP terms?

 

Answer

The Seller is responsible for arranging Carriage to place of destination if the term of delivery is under CIP terms.

 

Q)  Who is obliged to settle cost for Import customs clearance in CIP terms?

 

Answer

All payment settlement for Import customs clearance in CIP terms is obliged with the Buyer.

 

Q)  Import duties and taxes should be paid by whom under the CIP INCOTERM.

 

Answer

Import duties and taxes should be paid by the buyer under the CIP INCOTERM.


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