In this in-depth guide, we will be diving into the complexities and nuances you, as an SMB, face when importing from China.Read More
Find easy-to-understand explanations of the most common freight forwarding and shipment terms
A CFR (Cost and Freight) Incoterm defines a seller’s and buyer’s responsibilities and risks. The seller is responsible for delivering the goods on board a ship at the port of shipment, including all the costs involved, such as transportation to the port of destination, export customs, and charges.
Meanwhile, the buyer shoulders the payment of goods, destination charges, customs handling at the destination, and all risks involved as soon as the goods are loaded onto the ship in the departure port until the final destination.
In other words, the seller is responsible for arranging delivery of the goods to a named port of destination, with all costs up until that point covered by them. The buyer takes responsibility from this point onward.
CFR Incoterms are used in sea freight shipment only.