Incoterms 2020 CIP: Spotlight on Carriage and Insurance Paid To скачать в хорошем качестве

Incoterms 2020 CIP: Spotlight on Carriage and Insurance Paid To

There are 11 Incoterms 2020 rules. These globally-recognized trade terms, published by the International Chamber of Commerce, determine how costs and risks are split between buyers and sellers conducting international transactions, and when the risk or liability for the goods transfer from the seller to the buyer. Today I’ll take a closer look at the Incoterms rule CIP, also known as Carriage and Insurance Paid To. ************* Incoterms Chart of Responsibilities and Transfer of Risk: https://www.shippingsolutionssoftware... An Introduction to Incoterms eBook: https://www.shippingsolutionssoftware... Find 100s of articles about various aspects of exporting on Passages: The International Trade Blog: https://www.shippingsolutionssoftware... ************** Carriage and Insurance Paid To Responsibilities and Risk Under CIP, the seller is responsible for delivering goods to the first carrier or another person stipulated by the seller at a named place of shipment, at which point risk transfers to the buyer. The seller is responsible for the transportation costs and insurance associated with delivering goods at least to the named place of destination. CIP is one of only two Incoterms 2020 rules that identify which of the parties must purchase insurance—CIF is the other. The amount of insurance required under CIP has increased to at least 110% of the value of the goods as detailed in Clause A of the Institute Cargo Clauses, rather than the lower level provided under Clause C, which is what was required for CIP in the 2010 rules and still is required for CIF. This is because CIP is most commonly used for manufactured goods with higher value than the commodity goods more typically shipped under CIF. CIP can be used for any mode of transportation. Using Carriage and Insurance Paid To With all of the C-group terms, the seller is responsible for contracting international transportation and purchasing insurance. The named place where the transfer of responsibility occurs is always on the buyer’s side. What’s the difference between CPT and CIP? CIP accounts for some of the risk the buyer is taking on when the seller arranges transportation. Under CIP, the seller is obligated to insure the goods in favor of the buyer to cover the buyer's risk. *************** Chapters 00:00 Introduction 00:51 Cost and Insurance Paid To Responsibilities and Risk 02:00 Using Cost and Insurance Paid To 02:13 What’s the difference between CPT and CIP? 02:43 Incoterms Chart of Responsibilities ************** #exportdocumentationsoftware #exportdocuments #usexportinghelp #incoterms2020 #incoterms #CIP #CostandInsurancePaidTo *************** Make sure you subscribe to this channel for more practical advice for exporters and importers.    / @shippingsolutions   *************** Incoterms® and the Incoterms® 2020 logo are trademarks of ICC. Use of these trademarks does not imply association with, approval of or sponsorship by ICC unless specifically stated above. The Incoterms® Rules are protected by copyright owned by ICC.