COST AND FREIGHT (CFR)
Cost and freight up to defined port. Clause for which the seller provides the goods on the ship, cleared for export, in a port agreed with the buyer. The buyer assumes all costs and risks of unloading the ship, customs in import and subsequent transport.
Note: the ownership of the goods passes however to the buyer when the goods are loaded on the ship, even if the transport up to the delivery port is paid by the seller. Furthermore, unless otherwise agreed, the seller is not required to insure the goods. This formula can only be used in the case of maritime transport or inland waterways.