Cost and Freight(redirected from Cost & Freight)
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Cost and Freight (CFR)
Seller is responsible for the payment of freight to carry goods to a named destination, as agreed with the buyer. This should be used with ocean shipments only, as the point where risk and responsibility pass from seller to buyer is the rail of the carrying vessel.
Cost and Freight
A CPT involving ocean freight. In a CFR, the seller is responsible for paying for shipping, while the buyer is responsible for transportation risk as soon as the good or product is loaded onto the ship. Legally, risk transfers when the good or product crosses the outer rail of the ship. See also: Incoterm.