Resource Center
CIP – The seller arranges cargo insurance for the benefit of the buyer
CIP – The seller arranges cargo insurance for the benefit of the buyer
The terms of sale can be thought of as sitting on a sliding scale of responsibilities, which are split between buyers and sellers according to the Incoterms Rules. At one end, risk and cost are loaded toward the buyer, and at the other end, they fall more with the seller.
Under CIP, in addition to the main carriage, the seller also arranges and pays for insurance against loss or damage during transit for the benefit of the buyer. Just like FCA and CPT, the risk of loss or damage during transit still passes from the seller to the buyer before carriage commences.
This term is suitable for most kinds of goods carried by road, rail, air, sea, or inland waterway (or any combination of these).
The named place is the place to which the main carriage is arranged, but risk transfers from the seller to the buyer when the goods are handed over to the main carrier. This is typically the country of origin and is often at or relatively close to the seller’s premises.
Therefore, the named place is different from the risk transfer point.
The main carriage is arranged and paid for by the seller up to the named place.
The seller also arranges insurance coverage for the benefit of the buyer from the risk transfer point up to at least the named place.
Don't see an answer to your question?
Please complete our contact form and submit your inquiry, and one of our expert sales or service advisors will reach out to you as soon as possible.
Our Latest Articles
By Matt Zehner, VP, Surety Information & Analysis, Roanoke Insurance Group Inc. Recently, my colleague Colleen introduced Tariffs and Bond Stacking Liability and the need for importers to monitor bond sufficiency on a regular basis, with the goal to avoid a short-notice demand from CBP to terminate and file a larger bond. One significant reason to planning the timing of when to make use of a larger continuous bond is that by reducing the number of times the bond amount changes over time, the bond principal is able to minimize the accumulation of bond liability. There are ancillary benefits to importers when […]
By: Lenny Feldman, Managing Partner at Sandler, Travis & Rosenberg, P.A. With the government’s continued emphasis on enforcement, it has become mission-critical for parties engaged in international trade to set their strategic offensive in place through programs such as “regulatory defense. “The administration continues to issue executive actions and regulations that increase trade enforcement by stepping up the collection of section 301, 232, and 201 tariffs as well as antidumping and countervailing duties and the prosecution of trade and customs laws violations, particularly in the de minimis space. Additionally, federal agencies have issued regulations and decisions underscoring the need for […]
The surge in cargo theft incidents, including sophisticated scams like fictitious pickups and fraud schemes, has left logistics service providers facing significant challenges. Join us in our latest video. Karen Rzeszutko, President of Roanoke Insurance Group, and Tony Pelli, Practice Director for Security and Resilience at BSI, dive into the evolving threats and share actionable insights to protect your operations. Why This Video Matters Cargo theft is a growing problem that impacts every link in the supply chain. From theft hotspots in North America to emerging criminal tactics, Karen and Tony discuss: Key Cargo Theft Trends – Including hotspots like […]
By: Kelli Milianti, ATA Carnet Manager, Roanoke Insurance Group Inc. When shipping goods for temporary importation and re-exportation, businesses must select a form of security to meet customs requirements. Most often the cargo owner faces the choice between using an ATA Carnet with a carnet bond or a Temporary Import Bond (TIB). Each option has its advantages, but the ATA Carnet generally offers more streamlined benefits for international trade. Benefits of an ATA Carnet 1. Cost Savings: ATA Carnets eliminate duties and value-added taxes (VAT) when goods are re-exported within the validity period, reducing financial burdens[1][2][3]. 2. Simplified Customs Procedures: […]
The threat of cargo theft is a persistent risk for businesses operating in the global supply chain, with organized crime groups continually adapting and evolving their tactics to target high-value goods. According to our latest Cargo Theft Report, the rise in strategic thefts, which involve deception, fraud, and sophisticated planning, is a key trend in 2024, with an exponential increase in the United States in particular. In North America, the risk of cargo theft is heightened, with the United States and Canada experiencing significant increases in thefts. The report highlights that food and beverage products dominate the list of targeted […]
This FAQ is tailored for Canadian importers who need guidance on complying with the upcoming Release Prior to Payment (RPP) changes under the Canada Border Services Agency (CBSA) Assessment and Revenue Management (CARM) initiative. Frequently Asked Questions (FAQ) – Release Prior to Payment (RPP) Under CARM 1. What is the Release Prior to Payment (RPP) program? The RPP program allows importers to have their goods released by the Canada Border Services Agency (CBSA) before they pay duties and taxes. However, importers must now provide their own financial security to participate in RPP, as they can no longer rely on their […]
by Craig Nerger, Strategic Relationship Manager, Roanoke Insurance Group Customs brokers are essential facilitators of international trade, ensuring that goods are properly cleared through U.S. Customs while navigating a complex regulatory landscape. As advisors to importers and key figures in the global supply chain, brokers face significant risks, particularly when dealing with imports subject to anti-dumping duties (ADD). These duties, imposed to protect domestic industries from unfair pricing practices, present serious financial and liability challenges for importers and customs brokers. This article highlights the heightened risks associated with anti-dumping duties. It underscores the critical need for errors and omissions (E&O) […]
February 10, 2025 – Chicago, IL Roanoke Insurance Group proudly celebrates its 90th anniversary as a pioneer and trusted partner in the logistics and trade insurance industry. Since its founding in 1935 in Chicago, Illinois, Roanoke has been at the forefront of industry innovation, delivering specialized insurance solutions that have shaped and supported the global trade and logistics sector. Milestones in Roanoke’s Legacy From its early days as the first provider of customs import bonds in the United States to its recognition as the first official ATA Carnet provider for the U.S. Council for International Business (USCIB) in 1978, Roanoke […]
Handling temporary exports can be complex, and calculating ATA Carnet costs shouldn’t slow you down. That’s why we’ve introduced our ATA Carnet Cost Calculator—a simple, user-friendly resource designed to provide instant, accurate cost estimates tailored to your shipping needs. Our ATA Carnet team is very excited about this innovative tool. ATA Carnet Manager Kelli Milianti shared her enthusiasm, stating, “We are delighted to launch our new online Carnet Calculator, which simplifies the estimation process and delivers fast, precise quotes that will enhance customer satisfaction. This digital solution provides an easy and clear method for obtaining quotes customized to your unique […]
By: Dennis Gates, Regional Vice President Northeast Region The announcement of potential tariffs has sparked concern across industries. In November 2024, the U.S. President-elect proposed a 25% tariff on imports from Canada and Mexico. This move could significantly disrupt trade, particularly for goods previously duty-free under the U.S.-Mexico-Canada Agreement (USMCA). For importers and their customhouse brokers, these tariffs could bring significant financial and logistical challenges. Understanding the Potential Impact These proposed tariffs may affect a wide array of goods, from raw materials to finished products. Importers need to understand how these changes could increase costs, strain supply chains, and lead […]
By Matt Zehner, VP, Surety Information & Analysis, Roanoke Insurance Group Inc. Recently, my colleague Colleen introduced Tariffs and Bond Stacking Liability and the need for importers to monitor bond sufficiency on a regular basis, with the goal to avoid a short-notice demand from CBP to terminate and file a larger bond. One significant reason to planning the timing of when to make use of a larger continuous bond is that by reducing the number of times the bond amount changes over time, the bond principal is able to minimize the accumulation of bond liability. There are ancillary benefits to importers when […]
By: Lenny Feldman, Managing Partner at Sandler, Travis & Rosenberg, P.A. With the government’s continued emphasis on enforcement, it has become mission-critical for parties engaged in international trade to set their strategic offensive in place through programs such as “regulatory defense. “The administration continues to issue executive actions and regulations that increase trade enforcement by stepping up the collection of section 301, 232, and 201 tariffs as well as antidumping and countervailing duties and the prosecution of trade and customs laws violations, particularly in the de minimis space. Additionally, federal agencies have issued regulations and decisions underscoring the need for […]
The surge in cargo theft incidents, including sophisticated scams like fictitious pickups and fraud schemes, has left logistics service providers facing significant challenges. Join us in our latest video. Karen Rzeszutko, President of Roanoke Insurance Group, and Tony Pelli, Practice Director for Security and Resilience at BSI, dive into the evolving threats and share actionable insights to protect your operations. Why This Video Matters Cargo theft is a growing problem that impacts every link in the supply chain. From theft hotspots in North America to emerging criminal tactics, Karen and Tony discuss: Key Cargo Theft Trends – Including hotspots like […]
By: Kelli Milianti, ATA Carnet Manager, Roanoke Insurance Group Inc. When shipping goods for temporary importation and re-exportation, businesses must select a form of security to meet customs requirements. Most often the cargo owner faces the choice between using an ATA Carnet with a carnet bond or a Temporary Import Bond (TIB). Each option has its advantages, but the ATA Carnet generally offers more streamlined benefits for international trade. Benefits of an ATA Carnet 1. Cost Savings: ATA Carnets eliminate duties and value-added taxes (VAT) when goods are re-exported within the validity period, reducing financial burdens[1][2][3]. 2. Simplified Customs Procedures: […]
The threat of cargo theft is a persistent risk for businesses operating in the global supply chain, with organized crime groups continually adapting and evolving their tactics to target high-value goods. According to our latest Cargo Theft Report, the rise in strategic thefts, which involve deception, fraud, and sophisticated planning, is a key trend in 2024, with an exponential increase in the United States in particular. In North America, the risk of cargo theft is heightened, with the United States and Canada experiencing significant increases in thefts. The report highlights that food and beverage products dominate the list of targeted […]
This FAQ is tailored for Canadian importers who need guidance on complying with the upcoming Release Prior to Payment (RPP) changes under the Canada Border Services Agency (CBSA) Assessment and Revenue Management (CARM) initiative. Frequently Asked Questions (FAQ) – Release Prior to Payment (RPP) Under CARM 1. What is the Release Prior to Payment (RPP) program? The RPP program allows importers to have their goods released by the Canada Border Services Agency (CBSA) before they pay duties and taxes. However, importers must now provide their own financial security to participate in RPP, as they can no longer rely on their […]
by Craig Nerger, Strategic Relationship Manager, Roanoke Insurance Group Customs brokers are essential facilitators of international trade, ensuring that goods are properly cleared through U.S. Customs while navigating a complex regulatory landscape. As advisors to importers and key figures in the global supply chain, brokers face significant risks, particularly when dealing with imports subject to anti-dumping duties (ADD). These duties, imposed to protect domestic industries from unfair pricing practices, present serious financial and liability challenges for importers and customs brokers. This article highlights the heightened risks associated with anti-dumping duties. It underscores the critical need for errors and omissions (E&O) […]
February 10, 2025 – Chicago, IL Roanoke Insurance Group proudly celebrates its 90th anniversary as a pioneer and trusted partner in the logistics and trade insurance industry. Since its founding in 1935 in Chicago, Illinois, Roanoke has been at the forefront of industry innovation, delivering specialized insurance solutions that have shaped and supported the global trade and logistics sector. Milestones in Roanoke’s Legacy From its early days as the first provider of customs import bonds in the United States to its recognition as the first official ATA Carnet provider for the U.S. Council for International Business (USCIB) in 1978, Roanoke […]
Handling temporary exports can be complex, and calculating ATA Carnet costs shouldn’t slow you down. That’s why we’ve introduced our ATA Carnet Cost Calculator—a simple, user-friendly resource designed to provide instant, accurate cost estimates tailored to your shipping needs. Our ATA Carnet team is very excited about this innovative tool. ATA Carnet Manager Kelli Milianti shared her enthusiasm, stating, “We are delighted to launch our new online Carnet Calculator, which simplifies the estimation process and delivers fast, precise quotes that will enhance customer satisfaction. This digital solution provides an easy and clear method for obtaining quotes customized to your unique […]
By: Dennis Gates, Regional Vice President Northeast Region The announcement of potential tariffs has sparked concern across industries. In November 2024, the U.S. President-elect proposed a 25% tariff on imports from Canada and Mexico. This move could significantly disrupt trade, particularly for goods previously duty-free under the U.S.-Mexico-Canada Agreement (USMCA). For importers and their customhouse brokers, these tariffs could bring significant financial and logistical challenges. Understanding the Potential Impact These proposed tariffs may affect a wide array of goods, from raw materials to finished products. Importers need to understand how these changes could increase costs, strain supply chains, and lead […]
By Matt Zehner, VP, Surety Information & Analysis, Roanoke Insurance Group Inc. Recently, my colleague Colleen introduced Tariffs and Bond Stacking Liability and the need for importers to monitor bond sufficiency on a regular basis, with the goal to avoid a short-notice demand from CBP to terminate and file a larger bond. One significant reason to planning the timing of when to make use of a larger continuous bond is that by reducing the number of times the bond amount changes over time, the bond principal is able to minimize the accumulation of bond liability. There are ancillary benefits to importers when […]
By: Lenny Feldman, Managing Partner at Sandler, Travis & Rosenberg, P.A. With the government’s continued emphasis on enforcement, it has become mission-critical for parties engaged in international trade to set their strategic offensive in place through programs such as “regulatory defense. “The administration continues to issue executive actions and regulations that increase trade enforcement by stepping up the collection of section 301, 232, and 201 tariffs as well as antidumping and countervailing duties and the prosecution of trade and customs laws violations, particularly in the de minimis space. Additionally, federal agencies have issued regulations and decisions underscoring the need for […]
The surge in cargo theft incidents, including sophisticated scams like fictitious pickups and fraud schemes, has left logistics service providers facing significant challenges. Join us in our latest video. Karen Rzeszutko, President of Roanoke Insurance Group, and Tony Pelli, Practice Director for Security and Resilience at BSI, dive into the evolving threats and share actionable insights to protect your operations. Why This Video Matters Cargo theft is a growing problem that impacts every link in the supply chain. From theft hotspots in North America to emerging criminal tactics, Karen and Tony discuss: Key Cargo Theft Trends – Including hotspots like […]
Sign up for our latest articles and events.
Roanoke is the leading provider of insurance and surety solutions for transportation and logistics providers. In fact, we are recognized as the most reliable source for U.S. customs bonds.
Who We Serve
Resource Center
Contact
If you have any questions or need help, feel free to contact with our team.
800-762-6653
US CORPORATE HEADQUARTERS
1501 E. Woodfield Road
Suite 400W
Schaumburg, IL 60173
CANADA CORPORATE HEADQUARTERS
390 Bay Street
Munich Re Centre, 22nd Floor
Toronto, ON M5H 2Y2
Solutions that Go the Distance.
© 2024 Roanoke Insurance Group Inc.
