CIP

customer identification program (CIP)

A proposed requirement under the Bank Secrecy Act that all financial institutions implement a written, risk-based customer identification program, maintain information used to verify identities and compare the names of new customers against government lists of known or suspected terrorists or terrorist organizations. The proposed rule would apply to all customers seeking to open new accounts. American Banker Glossary

————

( Carriage and Insurance Paid To)

Seller is responsible for the payment of freight to carry goods to a named overseas destination. The seller is also responsible for providing cargo insurance at minimum coverage against the buyer's risk of loss or damage to the goods during transport. The risk of loss or damage is transferred from the seller to the buyer once the goods are delivered into the carrier's custody. This term may be used for any mode of transport. Bloomberg Financial Dictionary

* * *

CIP CIP

COMMERCE abbreviation for carriage and insurance paid

* * *

CIP UK US noun

► [C] HR ABBREVIATION for Continuous Improvement Programme: a system designed to help a company continuously find ways in which to help employees work more effectively: »

Under CIP anyone can suggest ways to do a specific task better, faster, more safely, or more efficiently.

► [C] MARKETING ABBREVIATION for Certified Intelligence Professional: a professional qualification in the US for someone whose job is to discover and study the activities of their company's competitors: »

The academy has beefed up its CIP program and now offers continuing-education units universally recognized by employers.

► [U] TRANSPORT, INSURANCE ABBREVIATION for CARRIAGE AND INSURANCE PAID(Cf. ↑carriage and insurance paid): »

CIP Marseilles