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Contd: CIP Incoterms


4.CIP Incoterms – Carriage and Insurance Paid to (named place of destination)
This is commonly used in road/rail or road/sea container shipments and is the multimodal equivalent of CIF. The seller pays for carriage and insurance to the named destination point, but risk passes when the goods are handed over to the freight forwarder, who in practice supplies the insurance element.

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