CIP
Abbreviation with 4 meanings
| Stands for | Carriage and Insurance Paid To |
|---|---|
| Meanings | 4 |
| Categories | Business & Finance, Law & Legal, Arts & Entertainment |
CIP has four meanings. The most common are Carriage and Insurance Paid To (logistics, supply chain & trade) and Customer identification program (banking); it can also stand for Continuation-in-part and Cataloging in Publication.
Meanings of CIP at a glance
| # | CIP stands for | Context |
|---|---|---|
| 1 | Carriage and Insurance Paid To | Business & Finance › Logistics, Supply Chain & Trade |
| 2 | Customer identification program | Business & Finance › Banking |
| 3 | Continuation-in-part | Law & Legal › Intellectual Property |
| 4 | Cataloging in Publication | Arts & Entertainment › Publishing and Book |
1. Carriage and Insurance Paid To
Business & Finance · Logistics, Supply Chain & Trade Abbreviations
Same as CPT, with the seller also obliged to buy cargo insurance covering the buyer's risk during carriage to the named destination. Under Incoterms 2020, the cover must meet the extensive Institute Cargo Clauses (A) level, unless the parties agree otherwise.
Example: The supplier quoted CIP Lagos, so the price includes freight and all-risks insurance.
Incoterms 2020 raised the minimum insurance for CIP from the restricted ICC (C) level to the broader ICC (A), while leaving CIF at ICC (C). Insurance must cover at least 110% of the contract price. Like CPT, risk passes when the goods are handed to the first carrier.
2. Customer identification program
Business & Finance · Banking Abbreviations
US requirement, introduced under the USA PATRIOT Act, that banks verify each new customer's identity by collecting at least name, date of birth, address and an identification number before opening an account. It forms the first layer of KYC.
Example: Under our CIP, we cannot open the account until we verify the customer's Social Security number.
Banks must also check customers against government lists of known or suspected terrorists. Non-US persons may provide a passport number or other government ID instead of a taxpayer identification number. CIP rules took effect in 2003 for banks, broker-dealers and other financial institutions.
3. Continuation-in-part
Law & Legal · Intellectual Property Abbreviations
US patent application that repeats a substantial portion of an earlier pending application and adds new subject matter. Claims supported by the original disclosure keep the earlier filing date, while claims relying on the new matter get only the CIP's own date.
Example: The company filed a CIP to cover the improved valve design developed after the original filing.
A CIP differs from a continuation, which adds no new matter, and a divisional, which pursues claims split off by a restriction requirement. Because the patent term runs 20 years from the earliest non-provisional filing date claimed, a CIP may expire sooner than its new matter alone would suggest. Most other countries have no equivalent.
4. Cataloging in Publication
Arts & Entertainment · Publishing and Book Abbreviations
Library of Congress program that prepares a catalog record for a book before it is published, so the record can be printed on the copyright page and libraries can shelve the book quickly.
Example: The CIP data block lists the author's birth year, subject headings and Dewey number.
Started in 1971. Only established US publishers are eligible; self-publishers may use other programs or buy publisher-prepared data. The record includes subject headings and classification numbers that librarians use directly.
Related abbreviations
More logistics, supply chain & trade abbreviations
- CFS – Container freight station
- CHB – Customs house broker
- CI – Commercial invoice
- CIF – Cost, Insurance and Freight
- CMR – Convention on the Contract for the International Carriage of Goods…
- CO – Certificate of origin
- CPFR – Collaborative planning, forecasting and replenishment
- CPT – Carriage Paid To
See all 106 logistics, supply chain & trade abbreviations →
More banking abbreviations
- CFT – Countering the financing of terrorism
- CHAPS – Clearing House Automated Payment System
- CHIPS – Clearing House Interbank Payments System
- Chq – Cheque
- CRA – Community Reinvestment Act
- CRR – Cash reserve ratio
- CTR – Currency transaction report
- CU – Credit union
See all 80 banking abbreviations →
This entry is for general education and is not legal advice. Abbreviation use varies between institutions; always confirm in context.