„CFR (Cost and Freight ...named port of destination)“

What does CFR (Cost and Freight ...named port of destination) stand for?

The seller must pay the costs and freight necessary to bring the goods to the named port of destination but the risk of loss of or damage to the goods, as well as any additional costs due to events occurring after the time the goods have been delivered on board the vessel, is transferred from the seller to the buyer when the goods pass the ship’s rail in the port of shipment. (Note: this Incoterm, CFR, has replaced the term C&F which has been in common usage)

Source:

Ramberg, Jan. (2011). ICC Guide to Incoterms 2010. Paris: International Chamber of Commerce (ICC).

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