An Incoterm meaning ‘carriage and insurance paid’ (to a named place of destination). The supplier pays for carriage and insurance to the named destination, but risk passes to the buyer when the goods are handed over to the first carrier. See also Incoterms.

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Discover the world’s largest Glossary of Procurement terms

With over 800 Procurement specific terms (and growing) you will find everything you need to know or thought you knew about the Procurement function. Our aim is to provide you with a comprehensive list collated from the Comprara Groups hub of training and consulting source materials.The Procurement Glossary has been compiled by industry expert Paul Rogers.