CIP - Carriage and Insurance Paid To

CIP (Carriage and Insurance Paid To) is an Incoterms rule for any transport mode. The seller covers freight to the agreed destination and insurance (under Incoterms 2020 - at ICC A level, i.e. all risks). Risk passes when goods are handed to the first carrier. CIP is the multimodal equivalent of CIF and is recommended over CIF for containerised shipments.