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English to Arabic translations [PRO] Law/Patents - Law: Contract(s)
English term or phrase:CIP
"Carriage and Insurance Paid to" means that the seller delivers the goods to the carrier or another person nominated by the seller at an agreed place (if any such place is agreed between the parties) and that the seller must contract for and pay the costs of carriage necessary to bring the goods to the named place of destination. The seller also contracts for insurance cover against the buyer's risk of loss of damage to the goods during the carriage.