Wednesday, February 29, 2012

UNDERSTANDING INCOTERMS 2010- CFR (Cost and Freight)

CFR (Cost and Freight)
The seller must pay the costs and freight required in bringing the goods to the named port of destination. The risk of loss or damage is transferred from seller to buyer when the goods pass over the ship's rail in the port of shipment. The seller is required to clear the goods for export. This term should only be used for sea or inland waterway transport.

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