WHAT IS CFR
WHAT IS CFR CFR is "Cost and Freight". This incoterm is only for the maritime shipping. In this incoterm the seller does not only delivers the goods to the buyer but he or she is also responsible for goods to be transported to the destination port and their transportation costs. It is commonly used where where the seller has direct access to the vessel for loading. For example bulk cargos and non containerised goods. The seller under CFR undertakes the responsibility of delivering the goods to the port mentioned in the contract, get a customs clearance from the origin and pays for the international freight. All the rules of the previously mentioned incoterms apply to CFR also. The seller however is not responsible for the insurance of the goods The insurance of the goods is a responsibility of ...