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CIP (Carriage and Insurance Paid To) is a commonly used trade term in international commerce. It refers to a contract between the seller and buyer, where the seller bears the cost and risk of transporting the goods to the agreed upon destination. This includes not only the carriage of the goods, but also the cost of insurance. CIP is often used in conjunction with a named point, indicating the exact location where the goods will be delivered. It is important to understand this term when engaging in global trade, as it outlines the responsibilities of each party and helps to avoid any misunderstandings or disputes.
