Context is: trade term. An international commercial term (Incoterm) meaning "cost and freight." The term is used in international sales contracts to signify that the seller must pay the cost and freight necessary to bring goods to a port of destination, but that the risk of loss or damage passes from the seller to the buyer when the goods pass the ship's rail in the port of shipment. Because a CFR selling price includes the cost of the goods and freight but not the cost of insurance, this term of sale is often used when the government in an importing country requires that insurance be supplied by a company subject to its jurisdiction. Prior to the 1990 version of the Incoterms, C&F was used instead of CFR, with the same meaning. See also CIF; CIP; CPT; DAF; DDP; DDU; DEQ; DES; EXW; FAS; FCA; FOB; Incoterms.
This is an INCO term and explains what the price quoted represents and the responsibility of the buyer and seller in relation to arranging for the various costs associated (e.g. insurance, freight, duties) with the shipment.
A Term of Sale where the seller pays the costs and freight necessary to bring the goods to the named port of destination, Terms of Sale but the risk of loss of or damage to the goods, as (continued) well as any additional costs due to events occurring after the time the goods have been delivered on board the vessel, is transferred from the seller to the buyer when the goods pass the ship's rail in the port of shipment. The CFR term requires the seller to clear the goods for export.
Cost and freight. A pricing term indicating that the cost of the goods and freight charges are included in the quoted price; the buyer arranges for and pays insurance.
Cost and Freight: Indicates that a quoted price includes the cost of the goods and transportation charges but not of insurance.
Cost and freight. This is an Incoterm - see the Incoterms 2000 website for more information. The seller clears the goods for export and meets the cost of carriage to the port in the destination country. But the buyer bears all risks after delivery, which occurs when goods pass over the ship's rail in the port of shipment. The buyer also bears any extra costs caused by events that happen after delivery.
Cost and Freight - Incoterm. Seller pays transport costs to named destination, but not insurance.
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COST AND FREIGHT (...named port of destination)
"Cost and Freight" - means that the exporter's price includes all charges up to the arrival of the goods at the point of discharge from the vessel. It does not, however, include the cost of insuring the goods against loss or damage whilst in transit to that point. Must be followed by the name of the port of discharge, eg. "CFR Singapore". This term should not be used for transport by airfreight or containerised seafreight - see "CPT".
(Cost and Freight) This term formerly known as CNF (C&F) defines two distinct and separate responsibilities-one is dealing with the actual cost of merchandise "C" and the other "F" refers to the freight charges to a predetermined destination point. It is the shipper/seller's responsibility to get goods from their door to the port of destination. "Delivery" is accomplished at this time. It is the buyer's responsibility to cover insurance from the port of origin or port of shipment to buyer's door. Given that the shipper is responsible for transportation, the shipper also chooses the forwarder.
Cost and Freight. The supplier of the goods pays for transportation, but not for insurance.
An international trade term of sale in which the seller/exporter/manufacturer clears the goods for export and is responsible for delivering the goods past the ships rail at the port of shipment (not destination).
The seller must pay the costs and freight necessary to bring the goods to the named port of destination but the risk of loss of or damage to the goods, as well as any additional costs due to events occurring after the time the goods have been delivered on board the vessel, is transferred from the seller to the buyer when the goods pass the ship's rail in the port of shipment. (Note: this Incoterm, CFR, has replaced the term C&F which has been in common usage)