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What is CFR – Cost and Freight (named port of destination) ?

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What is CFR?

CFR – Cost and Freight (named port of destination)

The seller is responsible for the carriage of goods to the named port of destination. Risk is transferred to the buyer when the goods are loaded onboard the ship in the country of export. The shipper is responsible for origin charges which may include export clearance,  freight costs for carriage to named port, truck loading, etc. The shipper is not responsible for insurance or delivery to the final destination from the port (door). If the buyer requires the seller to purchase insurance the Incoterm CIF would apply. CFR should only be used for non-containerized ocean shipments and inland waterway transport. Incoterm CPT would apply to all other modes of transport.

Tags: incoterms

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