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CFR is an international trade term that means the seller delivers the goods on board and pays for freight until the named port of destination. The buyer takes the risk and cost of import clearance and unloading from the port of destination.
- What Is Cost and Freight (CFR)?
- Understanding Cost and Freight
- Similar Incoterms to Cost and Freight
- The Bottom Line
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Cost and freight (CFR) is a legal term used in foreign trade contracts. In a contract specifying that a sale is cost and freight, the selleris required to arrange for the carriage of goods by sea to a port of destination and provide the buyer with the documents necessary to obtain them from the carrier. With a cost and freight sale, the seller is n...
Contracts involving international transportation often contain abbreviated trade terms that describe matters such as the time and place of delivery; payment; the conditions under which the risk of loss shifts from the seller to the buyer; and specifying the party responsible for the costs of freight and insurance. If a buyer and a seller agree to i...
For goods transported internationally by sea or inland waterways, there are three other Incoterms that are closely related to CFR and are frequently used in trade contracts. 1. Free alongside ship (FAS)means that the seller only has to deliver the cargo to the port next to the vessel, and responsibility for the goods shifts to the buyer at that poi...
Cost and freight (CFR), an Incoterms rule that’s applicable only tocargo transported by sea or inland waterways, puts a fair bit of responsibility on the shoulders of both the buyer and the seller. Under these agreements, which are fairly common in international trade, the seller is responsible for all the planning and costs associated with exporti...
CFR is a foreign trade term that means the seller delivers the goods to a port of destination and provides the documents for the buyer to pick them up. The buyer is responsible for the risk of loss or damage and the cost of insurance after the goods are loaded on the ship. Learn more about CFR and other Incoterms.
Learn the meaning and usage of CFR, a sea or inland waterway rule where the seller pays for transport to named port and delivers cleared goods on board. Find out the advantages and disadvantages of CFR and how it differs from CIF.
CFR (Cost and Freight) is a trade term that requires the seller to deliver the goods on board a vessel and pay the freight to the destination port. The buyer assumes the risk of loss or damage from that point and the costs of unloading and customs clearance.
Learn what CFR means in shipping and when to use it for ocean or inland waterway transport. Find out the seller's and buyer's obligations, risk and cost transfer, and contact a representative for guidance.
People also ask
What is the difference between CFR and other Incoterms ?
What are the duties and obligations of CFR Incoterms?
What are the different types of Incoterms?
CFR Incoterm or Cost and Freight is an ocean freight shipping term that means the seller delivers the goods to the port of destination and pays the transportation costs. Learn the pros and cons of CFR, the seller's and buyer's obligations, and the insurance options under this Incoterm.
Jun 8, 2023 · CFR is a tricky incoterm that shifts responsibility and liability from seller to buyer at the port of loading. Learn the details, pros and cons, and alternatives of CFR for bulk and break bulk cargo.
