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Shipping Glossary
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Shipping Glossary
CHCContainer handling charge |
CHCCargo Handling Charges |
CHIPSClearing House Interbank Payment System |
ChockA piece of wood or other material placed at the side of cargo to prevent rolling or moving sideways |
CICSCustomer Information Control System: Part of the large computer operating system MVS by IBM. E.g. see FIS is based on the CICS which mainly controls data access |
CIDAContainer Inland Disbursement Account: Invoicing of costs (e.g. by the agent) incurred by the transport, storage or cleaning of containers in a country |
CIFCost, Insurance and Freight |
CIF (Cost, Insurance, and Freight)The seller has the same obligations as under the CFR but also has to procure marine insurance against the buyer!/s risk of loss or damage to the goods during the carriage. The seller contracts for insurance and pays the insurance premium |
CIPCalling in point |
CIP (Carriage and Isurance Paid To)The seller has the same obligations as under CPT, but also must contract and pay for insurance against the buyer!/s loss of or damage to the goods during the carriage. The seller contracts for insurance and pays the insurance premium. The buyer should note that under the CIP term, the seller is required to obtain insurance only on minimum coverage |
