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.
Learn Exports Imports Free, Click here
Click here to know GST rate of your goods or service
How to send export samples to foreign buyer? Tips to send samples to foreign buyer
How to set up an export import firm in India
What is VACIS exam in US import customs clearance
When can an exporter release bill of lading from shipping company?
When does exporter get EP copy of shipping bill after customs clearance
How to solve exchange rate variation in export business:
How to surrender ‘HBL’ House Bill of Lading
How transshipment bill of lading works?
Is letter of credit safe mode of payment?
IGM amendment (Import General Manifest Amendment)
Customs procedures for Paraguay Export
Registration required to export from Paraguay
Documents needed for Paraguay import
Import Customs processes in Paraguay
Import Registration and import Licence procedures in Paraguay
How to export from Papua New Guinea?
How to calculate IGST under imports?
Changes in IEC after GST
Linking IEC with GSTIN in customs
Import under EPCG after GST
GST on imports by EOUs and SEZs
Changes of operation of SEZ
What is Supply of Goods under GST
Supplier under GST
Meaning of SGST Credit for payment of IGST
Single registration under GST
What is Single Business vertical under GST