Cost and Freight (CFR) meaning CFR is an Incoterms rule and a legal agreement that states that the seller is responsible for shipping goods by sea to the buyer's chosen destination port. Here, the seller pays the costs and provides the required documentation for the buyer to collect the go...
(f) CIF (cost, insurance and freight): The cargo insurance and delivery of goods to the named port of destination (discharge) at the seller’s expense. (f) 到岸价格(成本、保险和运费):货物保险和在指定目的港交货(卸货),费用由卖方承担。 UN-2 The regional procurement of office furniture...
cost and freight meaning, definition, what is cost and freight: an Incoterm stating that the seller pays...: Learn more.
The seller pays freight charges in CFR. He stays liable for inland transit from the warehouse to the first port, i.e., the exporting country’s port, and later for the carriage proceeding from the first port to the second port, i.e., the importing country’s port. ...
Also Read:Cost, Insurance, and Freight – Meaning, Obligations, Advantages, and Disadvantages Cost and Freight – When to Use? In international trade, buyers and sellers can use CFR only in the case of ocean or inland waterway transport. A seller usually agrees to the CFR agreement if they ...
Warren Brown
The meaning of COST, INSURANCE, AND FREIGHT is including the cost of goods being shipped and the freight and insurance charges.
Cost and Freight CFR (CFR) Incoterm® describes how the seller has the responsibility of the goods until the destination port.
CIF is only used when shipping goods via ocean or waterway, meaning CIF cannot be used for air freight. CIF can be easier for buyers who don't want to go through the trouble of obtaining insurance, paying freight charges, and assuming all of the responsibility for shipping internationally. ...
When an Incoterm such as cost and freight appears in a contract of sale, it creates a legal obligation, meaning that it must be respected.5 Similar Incoterms to Cost and Freight (CFR) For goods transported internationally by sea or inland waterways, there are three other Incoterms that are...