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CFR in International business Meaning

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

CFR on International business 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 International business?

    CFR stands for Cost and Freight in International business terms.

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

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

Citation

CFR in International business. Acronym24.com. (2022, March 27). Retrieved November 22, 2024 from https://acronym24.com/cfr-meaning-in-international-business/

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