CFR - COST AND
FREIGHT (incoterms 2000)
What is CFR?
CFR is a delivery term Cost
and Freight specified in INCOTERMS 2000.
CFR means that the seller
delivers when the goods pass the ship's rail in the named
port of shipment.
The seller pays costs and
freight until the named port of shipment.
The goods delivered with CFR
are cleared for export by seller.
This also means that the
buyer should bear all costs and risks of loss or damage
from the point of delivery.
It is recommended
to verify specific details in Incoterms 2000.
Import, Export, Incoterms
The seller's
obligations in CFR term:
Provision of goods
Licenses and export
formalities
Delivery at the named port of
shipment
Transfer of risks to the
buyer
Details are
specified in Incoterms 2000
The buyer's
obligations in CFR term:
Payment of the price
Licenses and import
formalities
Contracts of carriage to the
named place of loading and insurance
The buyer should bear all
risks from the time the goods are delivered according to CFR
term
Details are
specified in Incoterms 2000
Additional
information about divisions of costs, notice to the
buyer, notice to the seller, proof of
delivery, transport documents and other
obligations available in INCOTERMS 2000 of
ICC.
Search for more in the
database
Subjects keywords:
CFR, COST AND
FREIGHT: CFR definition, seller's obligations in CFR term,
buyer's obligations in CFR term, INCOTERMS. All information
about CFR.
