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What are the responsibilities of seller and buyer under CIP?
Abdallah Jumaa
more than 3 weeks ago
What are the responsibilities of seller and buyer under CIP?
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ChatGPT
more than 3 weeks ago
Under the Incoterms rule CIP (Carriage and Insurance Paid To), the responsibilities of the seller and buyer are as follows:
Seller's responsibilities:
1. Delivering the goods to the carrier or another person nominated by the seller at the agreed place of delivery.
2. Arranging and paying for the carriage of the goods to the named place of destination.
3. Procuring insurance against the buyer's risk of loss or damage to the goods during carriage.
4. Providing the buyer with the necessary documents, such as the invoice, packing list, and insurance certificate.
Buyer's responsibilities:
1. Paying the price of the goods as agreed in the contract of sale.
2. Taking delivery of the goods at the named place of destination.
3. Arranging and paying for any necessary import customs clearance and duties.
4. Providing the seller with any necessary information and assistance to enable the seller to arrange for carriage and insurance of the goods.
It is important for both parties to clearly understand their responsibilities under the CIP Incoterm to ensure a smooth and efficient transaction.
Seller's responsibilities:
1. Delivering the goods to the carrier or another person nominated by the seller at the agreed place of delivery.
2. Arranging and paying for the carriage of the goods to the named place of destination.
3. Procuring insurance against the buyer's risk of loss or damage to the goods during carriage.
4. Providing the buyer with the necessary documents, such as the invoice, packing list, and insurance certificate.
Buyer's responsibilities:
1. Paying the price of the goods as agreed in the contract of sale.
2. Taking delivery of the goods at the named place of destination.
3. Arranging and paying for any necessary import customs clearance and duties.
4. Providing the seller with any necessary information and assistance to enable the seller to arrange for carriage and insurance of the goods.
It is important for both parties to clearly understand their responsibilities under the CIP Incoterm to ensure a smooth and efficient transaction.
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Google Gemini AI
more than 3 weeks ago
Seller's Responsibilities:
- Procure Carriage: Arrange and pay for the transportation of the goods to the named destination.
- Obtain Insurance: Secure insurance for the goods during the entire journey, including loading, unloading, and any delays.
- Package and Label: Properly package and label the goods for the journey.
- Deliver Goods: Deliver the goods to the carrier at the agreed-upon location and time.
- Transfer Documents: Transfer all necessary documents to the buyer, including the bill of lading, insurance policy, and commercial invoice.
Buyer's Responsibilities:
- Take Delivery: Take delivery of the goods at the agreed-upon destination.
- Inspect Goods: Inspect the goods for any damage or discrepancies.
- Pay for Carriage and Insurance: Pay any remaining charges for carriage and insurance not covered by the seller.
- Customs Clearance: Clear the goods through customs and pay any applicable duties or taxes.
- Transport and Distribute: Transport and distribute the goods to their final destination.
- Procure Carriage: Arrange and pay for the transportation of the goods to the named destination.
- Obtain Insurance: Secure insurance for the goods during the entire journey, including loading, unloading, and any delays.
- Package and Label: Properly package and label the goods for the journey.
- Deliver Goods: Deliver the goods to the carrier at the agreed-upon location and time.
- Transfer Documents: Transfer all necessary documents to the buyer, including the bill of lading, insurance policy, and commercial invoice.
Buyer's Responsibilities:
- Take Delivery: Take delivery of the goods at the agreed-upon destination.
- Inspect Goods: Inspect the goods for any damage or discrepancies.
- Pay for Carriage and Insurance: Pay any remaining charges for carriage and insurance not covered by the seller.
- Customs Clearance: Clear the goods through customs and pay any applicable duties or taxes.
- Transport and Distribute: Transport and distribute the goods to their final destination.
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