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CFR in Trade Meaning

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

CFR on Trade 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. Cost & Freigft

Frequently Asked Questions (FAQ)

  1. What does CFR stand for Trade?

    CFR stands for Cost and Freight in Trade terms.

  2. What is the shortened form of Cost & Freigft in Trade?

    The short form of "Cost & Freigft" is CFR for Trade.

Citation

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

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