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CFR in Accounting Meaning

The CFR meaning in Accounting terms is "Cost and Freight". There are 2 related meanings of the CFR Accounting abbreviation.

CFR on Accounting Full Forms

  1. Cost and Freight Only applicable for sea and inland waterway transport. The seller pays for the carriage of the goods up to the named port of destination. Risk transfers to buyer when the goods have been loaded on board the ship in the country of Export. The Shipper is responsible for origin costs including export clearance and freight costs for carriage to named port. The shipper is not responsible for delivery to the final destination from the port (generally the buyer facilities), or for buying insurance. If the buyer does require the seller to obtain insurance, the Incoterm CIF should be considered. CFR should only be used for non containerized seafreight; for all other modes of transport it should be replaced with CPT.
  2. Contract Financial Requirements

Frequently Asked Questions (FAQ)

  1. What does CFR stand for Accounting?

    CFR stands for Contract Financial Requirements in Accounting terms.

  2. What is the shortened form of Cost and Freight in Accounting?

    The short form of "Cost and Freight" is CFR for Accounting.

Citation

CFR in Accounting. Acronym24.com. (2022, March 27). Retrieved May 2, 2024 from https://acronym24.com/cfr-meaning-in-accounting/

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