So far on this website, I have explained the
differences between EXW and FCA as per Incoterms 2010 rules,
the differences between FOB and FCA as per Incoterms 2010 and
the differences between CIF and FOB.
Today I want to mention the differences between CIF Incoterms and CIP Incoterms according to latest ICC rules of international commercial terms.
CIF and CIP are the only incoterms, which regulates the insurance coverage of the transaction.
Under these two incoterms, exporters obligated to supply an insurance policy to importers.