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CFR in Business Word Meaning

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

CFR on Business Word 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. Code of Federal Regulations Each arm of the Federal U.S. Government has their own; CFR49 concerns the Coast Guard and Hazardous Materials / CFR19 concerns the U.S. Customs.

Frequently Asked Questions (FAQ)

  1. What does CFR stand for Business Word?

    CFR stands for Cost and Freight in Business Word terms.

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

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

Citation

CFR in Business Word. Acronym24.com. (2022, March 27). Retrieved November 26, 2024 from https://acronym24.com/cfr-meaning-in-business-word/

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