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CFR – Cost and Freight … (named port of destination)
• In CFR the seller clears goods for exports and delivers when goods are on board.
• The seller pays for freight to transport the goods until the final port of destination. However, the risk transfer occurs when goods are on board.
• This term is used in ocean and inland waterway transportation. The contract must specify the exact port of destination.
• If shipment is containerized, it is preferred to use CPT.
• This term is usually applied when goods are in bulk cargo like grains and oil, oversized cargo or cargo that exceeds the normal dimensions to fit inside a container.
